FED'S MESTER: MORE INFORMATION NEEDED BEFORE CONFIRMING 2% INFLATION SUSTAINABILITY

Federal Reserve Bank of Cleveland President Loretta Mester spoke on "An update from the Federal Reserve” on Thursday. Mester said that inflation is higher than expected and the US Fed needs more confidence in trajectory.

Key quotes

“More information needed before confirming 2% inflation sustainability.”

“Inflation slightly higher than anticipated this year.”

“Confidence needed that inflation is decreasing.”

“Strong labor markets, solid economic growth.”

“Watching and gathering more information before taking action.”

“Monetary policy well-positioned.”

“Possible rate cut if labor markets worsen.”

“Anticipates a shift to eased policy.”

“Watching risks to both mandates