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- Cleveland Fed president Mester: Fed's goal is still 2% inflation but new monetary strategy will allow higher inflation after period where inflation has been low - CNBC
Cleveland Fed president Mester: Fed's goal is still 2% inflation but new monetary strategy will allow higher inflation after period where inflation has been low - CNBC
- Economic activity is slowing in some regions
- The virus is really driving things
- Businesses have tempered hiring as virus cases have been increasing
- High-frequency data shows economic activity has slowed down a bit
- There is no mathematical formula, the strategy is about stabilizing inflation expectations
- The Fed will take into account financial stability when setting monetary policy
- Stock markets are rising based on where investors think the economy is headed
- Understands concern that Fed liquidity is fueling stock gains but does not feel that Fed is contributing to an asset bubble
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