Mester not sounding like an interest rate cut is imminent.
Loretta Mester, president and CEO of Federal Reserve Federal Reserve Bank Cleveland branch, speaking on "An Update From the Federal Reserve"
- We want to get more information before we can say inflation is on a sustainable path to 2%
- This year inflation is a little higher than expected
- We want to be pretty confident inflation is on this downward trajectory
- We have strong labor markets, solid economic growth
- I still expect inflation to come down
- If inflation isn't moving down to 2% we could keep rates where they are for longer
- At some point we will start to ease policy
- We don't have to ease policy in a hurry
- Watching risks to both of the Fed's mandates
Fed's Mester