Central Banks


Fed’s Mester (non-voter in 2019) speaking. She is generally considered more hawkish.

Loretta Mester is speaking. She is a nonvoting member of the Fed in 2019 and is generally considered more hawkish:

  • Slient question is whether to cut US interest rates are keep them steady
  • She would’ve preferred to hold US rates constant in July but it was a close call
  • Can see scenarios were rates are steady or moved lower
  • It is hard to read a strong signal from US treasury yield curve
  • US economic risks are weighted to the downside
  • Sometimes holding pat on rates is tightening policy
  • Needs to take time to assess economic conditions and then move policy as appropriate
  • US economy slowing but not in the same situation as global economy
  • US economy likely to grow around trend, with inflation rising to Fed target, but there are risks
  • She is not as concerned about inflation as some of Feds rate setting committee
  • Trade policy uncertainty is having an impact on business sentiment
  • Business investment has slowed but not more than would be expected given a slow down to trend growth

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