Economy continues to perform well

  


Loretta Mester is President of the Federal Reserve Bank of Cleveland.

  • said she opposed the rate cuts in September and July
  • but is happy to maintain those lower rates “for a while”
  • her outlook is generally bullish
  • notes global weakness and recent signs of a slowing US manufacturing sector
  • but … “the data indicate that the economy continues to perform well along a number of dimensions”
  • notes low unemployment, rising wages and strong consumer spending

Said its “not too difficult to envision firms cutting capital spending and hiring … undercutting households as a result

  • But  “on balance, I continue to expect that we will avoid a more serious turndown in the economy”

There will also be Q&A to follow

Loretta Mester is President of the Federal Reserve Bank of Cleveland.

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