Comments from Mester
- Mester says QE not as effective as it used to be so they can slow down buying
- Fiscal policy is expected to be a drag next year but we'll have to see what happens
- If inflation is not consistent with Fed goals we'll take action
- Fed doesn't want to see inflation expectations move above levels of 2% over time
- Majority of higher inflation is caused by pent up demand and reopening of the economy
