Fedspeak has resumed on Monday with Cleveland president Mester (hawk) at the University of Maryland and has stated that the US economy is doing well and that the Fed is on hold, watching how the economy evolves.
- U.S. economic growth is basically around trend.
- There is still solid growth in the labor market.
- The underlying inflation rate looks like it is rising toward Fed’s 2% goal.
- Some risks remain, such as uncertainty on U.S. trade policy.
- The U.S. consumer has been strong and resilient.
- Monetary policy is now well calibrated to the economy.
More to come …