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Mester To Give First Post-Payrolls Commentary

FED
  • Mester ('22 voter) speaks on MNI's Webcast at 1000ET in the second FOMC member (and first voter in 2022) to speak since Friday's mixed payrolls report.
  • Most recently, she said post-Jackson Hole but pre-payrolls: "My current view is that it will be necessary to move the fed funds rate up to somewhat above 4 percent by early next year and hold it there; I do not anticipate the Fed cutting the fed funds rate target next year. But let me emphasize that this is based on my current reading of the economy and outlook. While it is clear that the fed funds rate needs to move up from its current level, the size of rate increases at any particular FOMC meeting and the peak fed funds rate will depend on the inflation outlook, which depends on the assessment of how rapidly aggregate demand and supply are coming back into better balance and price pressures are being reduced."
  • Prior to Jackson Hole, she saw either a 50bp or 75bp hike in September. "the size of rate increases at any particular FOMC meeting and the peak fed funds rate will depend on the inflation outlook"
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Energy BulletsCommoditiesFOMC Calendar Market News

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