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FED: Former Fed hawk Mester following up on her more balanced/cautious addresses
made in early Jan, once again citing tighter financial conditions & sentiment as
downside risks.
- Mester noted that she fully supported decision to maintain fed funds rate at
2.25-2.5%. Policy, for the time being, is well-calibrated to econ outlook and
risks around it.
- Mester noted that the most likely outcome is that the economic expansion will
continue in '19, with growth moving down to at or slightly above trend, but move
unlikely to be smooth. There's uncertainty around forecast.
- Mester also stressed that the Fed has time to assess. If the economy performs
as she expects, the fed funds rate may need to move a bit higher. But if
downside risks come to pass and economy is weaker than expected, she will adjust
my outlook and policy views.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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