Mester on CNBC
Markets are putting a lot of emphasis on downside risks
One or two rate hikes is about where we're seeing the economy now
Fed trying to set policy based on where the economy is going, not where it's at
Says she's open to see where the economy goes before rate moves
We don't see inflation rising aggressively
Our business contacts have been more optimistic than what you would get from looking at markets but there are concerns about trade policy
Will 'certainly be' watching China
No urgency to raise rates now given inflation
Mester is relatively hawkish and these comments are part of the accelerated walk-down that's looking more and more co-ordinated. Kaplan shifted to something more dovish yesterday as well.
Jim Cramer sounds like he's about to go off on the Fed.
