Federal Reserve Bank of Cleveland President Loretta Mester spoke at length on Thursday US time:
- Fed's Mester: Recent data show demand side of economy not softening as expected
- Mester: More upside inflation surprises could make Fed policy more aggressive
- Fed's Mester: Fed will need to go above 5% and stay there for a while
More remarks crossing news wires now from Mester:
- Asked if there is anything that outweighs risk of high inflation this year, says 'that's gotta bet the focus'
- There are other risks out there besides inflation, but inflation is still the focus
- A recession wouldn't be a positive outcome, but it may happen
- Have not pencilled a recession into my forecast
Cleveland Fed Pres. Mester
