More from Mester - The Federal Reserve will not be cutting rates at all in 2023

More from Federal Reserve Bank of Cleveland President Loretta Mester.

Earlier:

• Fed's Mester: Right now the Fed needs to be focused on getting inflation down, not jobs

More:

• Balance sheet runoff equates to about 50 basis points of tightening over time
• Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is really hurting a lot of people
• Right now inflation is the big risk
• I see more persistence in inflation and see rates rising higher than the median of fed policymakers
• We have more work to do to get inflation on 2% path
• We don't quit until we get inflation down to 2%
• Selling some MBS eventually would be a good thing in my view
• Money supply is not a key thing I look at, hasn't been a reliable indicator of inflation
• Fed will use its tools to get to inflation target, don't need fiscal policy to tighten to make that happen
• We will keep at it until we do so
• It's going to take a while to get inflation down
• We will not be cutting rates next year at all

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Mester going fully gung-ho, nominates herself as more hawkish than many other FOMC members.

USD/JPY update, back above 145. I commented earlier on intervention risks above 145 and how a test to 145.70 looks nevertheless inevitable.

• USD/JPY not showing much response to the data, straddling 145