Cleveland Federal Reserve President Loretta Mester spoke earlier, headlines here

  • Says running economy hot is a risky strategy
  • Would be unproductive to overheat labor market
  • Fed credibility is very important to have effective policy
  • Says consistency in Fed communications is important, has concerns
  • One reason for Fed raising rates in sept was to show Fed is consistent in its communications

Headlines via Reuters

More:

  • History shows the Federal Reserve needs to be forward looking
  • Evidence wages are beginning to accelerate