Cleveland Fed President Loretta Mester. Earlier remarks:
- Fed's Mester says further rate hikes will be needed, and restrictive policy for some time
- Fed's policy rate may be right below restrictive level, not at neutral yet
- We are going to set monetary policy that's appropriate for the united states
- We don't set value of dollar, but have to understand impact on u.s. Economy
- Right now we are doing a pretty good job of communicating where we are going with policy
- There is no active discussion now of possible sale of MBS, but hope eventually to have a discussion about it
The Fed is getting blowback on the impact of its policies on the US dollar . ICYMI, its skyrocketing ....