Fed’s Mester Says Fed Policy Set at an Appropriate Level for Year Ahead

Federal Reserve Bank of Cleveland President Loretta Mester said Tuesday the economy will continue to need strong government support this year, while suggesting she believes monetary policy is currently set at an appropriate level to deal with how she expects the economy to develop.

“A slowdown in the economy in the first part of the year along the lines I am expecting wouldn’t require a change in monetary policy so long as the medium-run outlook remains intact,” Ms. Mester said in the text of a speech. “Nor would the strengthening…

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