Mester speaking to Bloomberg TV at Jackson Hole
- Is looking at all the data and market developments
- Economy can sustain an increase in interest rates
- Mon pol has to be forward looking
- Policy has to move before Fed goals are met
- We're getting pretty close or at full employment
- It's hard to infer inflation expectations from market measurements
- Decision to raise will be discussed at Sep meeting
- Cons to raising are recent market volatility and we have to take that seriously, though don't know what affect it will have right now
- Fed is credible institution and will let data guide policy
Cleveland Fed's Lorretta Mester wants to be proactive with policy
