Cleveland’s Federal Reserve (Fed) President Loretta Mester was on the wires last minutes, via Reuters, making a scheduled speech at the Central Banking Series hosted jointly by the Global Interdependence Center and Bank of France, in Paris.
Key Points:
Supports gradual rise in US interest rates.
Doesn’t expect inflation to pick up sharply.
Inflation will reach Fed’s symmetric goal of 2% on a sustainable basis over next one to two years.
Now is the time for Fed to assess whether it needs to make changes to its monetary policy framework.
Uncertainty over the US trade policy could cause firms to alter spending plans in the near term.
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