Feds Mester speaking on CNBC
- I think rates need to be above 5% and hold
- There have been some good movement on inflation but it's still too high
- My dot has not changed since December
- I don't think we need to have a trade-off between labor and price stability
- Unemployment can be low without creating inflation
- We have come a long way but we have to keep going. We have work to do
- We need to ensure that we get back to price stability
- Will not prejudge the size of our rate hike at the next meeting; depends on the data
- My forecast is that growth will slow this year and be below trend
- What's different now is our commitment to inflation
- I think we will start seeing what we have done in the past
- Parts of inflation are coming down but other parts are still higher
- Long-run inflation expectations are still relatively anchored