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Here are some of the key quotes from Cleveland Fed President Loretta Mester’s scheduled speech about monetary policy at the ECB macroprudential policy and research conference, in Frankfurt.

   “¢   Current outlook is one of the most favourable in a long time.
   “¢   Rate hikes can be a possible defense against financial stability risks.
   “¢   Financial system resilience is the first line of defense.
   “¢   May need monetary policy to ensure financial stability.
   “¢   US economy performance is near Fed’s policy goals.