Fed’s Mester says public should not hold policymakers to ‘unrealistic account’
Monetary policy cannot and should not be used to spur productivity growth
A member of the Federal Reserve's Federal Open Market Committee (FOMC) has said the Fed needs the "courage" to "push against attempts" to use monetary policy for issues that fall under the purview of fiscal policy.
Speaking today (February 20) in Singapore, Loretta Mester attempted to outline the debate that has ensued in recent weeks regarding the efficacy of monetary policy.
"The public needs to know what it can reasonably hold monetary policymakers accountable for," Mester said, acknowledging
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