Fed's Loretta Mester speaks in Cleveland
- Fed policy isn't behind the curve, waiting too long has risks
- Fed will still be accommodative for some time
- Underlying economic fundamentals remain sound
- It's appropriate to gradually lower accommodation in 2016
- Sees low inflation in 2016 which will move to 2% over the next couple of years
- Economy to grow at 2.25-2.5% this year
Nothing of any real note here.