Fed's Mester: Next phase of recovery will be hardest

Comments from Mester:

• Firms are rethinking how many employees they need going forward
• Lack of fiscal support poses significant risks to economic outlook
• Fiscal support needed to make sure recovery can continue
• Assessing whether inflation is too high will depend on the economic outlook and whether inflation is accelerating or stable

There's nothing surprising here but the answer about inflation is notable because there will be times next where when inflation rises above 2%, particularly when y/y comps on fuel start to hit.