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Fed’s Mester repeats that US monetary policy is ‘well calibrated’.
Mester says there are risks to the US outlook, including impact of coronavirus outbreak.
Mester says she expects the US economy to continue performing well.
Mester says her 2020 economic outlook is for u.s. expansion to continue with growth around trend, a solid labour market and low and stable inflation.
Mester says consumer spending slowdown in Q4 of 2019 ‘isn’t troubling’.
Mester says she sees PCE inflation returning to 2% goal gradually over next year or two.
Mester says she does not ‘at this time’ support cutting interest rates to spur a faster return of inflation to 2% goal.
Mester says the Fed should be particularly attuned to financial market developments in current environment.

More to come…