Fed's Mester: Volatility has raised downside risks to forecast but not enough to change basic view

Fed's Mester spoke with the WSJ at the start of European trading:

• "There is probably more downside risk to my forecast now given the volatility, but my baseline forecast probably hasn't moved enough to change my view on policy."
• "I want to take the time I have between now and the September meeting to evaluate all the economic information that's come in, including recent volatility in markets and the reasons behind that," Ms. Mester said. "But it hasn't so far changed my basic outlook that the U.S. economy is solid and it could support an increase in interest rates."

Mester is a hawk and a non-voter. The comments aren't a surprise.