Speaking on diversity and central-bank communication
The Cleveland Fed president Loretta Mester is scheduled to speak at the top of the hour. She is speaking on diversity and central-bank communication. There are likely to be questions and answers if her prepared text does not include comments on the economy or monetary policy.
On May 14 Mester said
- We're really focused on inflation expectations
- We see inflation above 2% this year and then going back down
- We should expect month-to-month volatility in data
On May 9 she said:
- Says she wants to see more strength in the labor market
- Childcare is a significant issue
- I don't think benefits are a main issue but it helps to put people in a position to make the decision to stay home and look after the kids or wait for the vaccine
- Supply chain issues are affecting certain products and commodities 'very much so in their pricing'
- My expectation is that we'll end the year above 2% inflation but when that unwinds, we'll see it fall again in 2022
- I'm particularly focused on inflation expectations -- I'll be looking at surveys and market based measures -- to see them rising and at what pace they're rising above 2%
