Loretta Mester
Fed’s Mester says public should not hold policymakers to ‘unrealistic account’
Monetary policy cannot and should not be used to spur productivity growth, says FOMC member; unwinding of Fed’s mortgage portfolio may help guard it against calls to enter the realm of fiscal policy
Hike now to avoid more action later, says Fed’s Lacker
Richmond Fed president adds his voice to growing number of Fed officials calling for rate hike; Loretta Mester insists proximity to US election need not prevent action at next meeting
Fed’s Tarullo looking for more evidence on inflation
Daniel Tarullo wants to see more convincing evidence that inflation is returning to target before tightening monetary policy; headline and core PCE inflation are still below target
Rate delay could deprive Fed of tools in future, warns Mester
Cleveland Fed president says there is a “non-negligible chance” unconventional tools will be deemed as “ultimately ineffective” by the public if the Fed is too slow to normalise policy
Mester favours ‘error band’ around FOMC projections
Cleveland Fed president Loretta Mester would like to some kind of “error band” introduced around FOMC projections, to reflect the uncertainty the committee is grappling with
Chicago and Cleveland Fed presidents back gradual path for rate increases
Charles Evans is “comfortable” with tightening implied by latest round of dot plots; he and Loretta Mester spell out outlooks for growth and inflation and risks surrounding them
Cleveland Fed president ‘fully supported’ rate hike
Loretta Mester expresses support for FOMC’s decision in December, but notes greater importance of policy path than date of lift-off for macroeconomic performance
Cleveland Fed’s Mester lays out ‘considerable progress’ on payment systems initiative
Loretta Mester tells New York conference of progress in appointing leaders and accumulating members for faster payments and secure payments task forces
Mester wants new models to get to grips with policy nexus
Cleveland Fed president sets out the kind of structural general equilibrium models needed to help understand interactions between monetary and macro-prudential policy
Fed’s Mester calls for more work on monetary policy and financial stability nexus
Loretta Mester sets out three priorities for research on the consumer credit markets in the United States at conference in Philadelphia
Fed presidents still divided on timing of rate hike
Heads of the Federal Reserve Banks in Atlanta, Boston and Cleveland offer different takes on current economic conditions; all united in desire for more data
Cleveland Fed’s Mester sees guidance as 'comms device'
Loretta Mester believes the Fed should stop using forward guidance as a policy tool when economic conditions have normalised and stick to setting out its reaction function