We had comments on Federal Reserve monetary policy and the economy from Mester earlier
- More from Fed's Mester: Would be unproductive to overheat labor market
- Fed's Mester: Raising rates now will prolong US economic expansion
More again (these via Reuters)
- Does not think Fed is behind the curve
- If Fed does not react to data in systematic way, could hurt its credibility
- Every Fed meeting is a live meeting
- When Fed has tried to overheat economy in the past, the outcome has 'not been that good'
- Politics does not enter into Fed decision making
- November will be an active meeting
- Sees US unemployment rate falling to 4.5 percent over the next couple of years
- Would not say participants struggled to understand each others' views at FOMC meeting
- Economic data has corroborated her outlook, felt there was compelling case to raise rates in September
- Status quo is attractive, but waiting until all data points line up risks putting Fed behind the curve
- There is a very compelling case to raise rates now while keeping to a gradual path
- With such low rates, needful to be mindful of search for yield
- No imminent concerns on financial stability at the moment
- Commercial real estate risks have begun to flatten out
- Election uncertainty not an issue to her