Comments from Mester:
- Repeats that US economy is 'basically there' in terms of substantial further progress needed to taper
- She is focused on whether prices increases are being embedded as higher inflation expectations
- She expects some of the high inflation readings seen this year to temper next year as supply chain challenges are resolved but some may last longer
- There are upside risks to inflation and the Fed has to be attuned to that
- Inflation criteria for rate hikes has not yet been met
This is nothing new from Mester, who had similar comments late last week.
