Fed's Mester says central bank can take time to assess economy before more hikes
Cleveland Fed President Loretta Mester said Friday that monetary policy is in a "good place" and this will allow the central bank to take the time to assess the economy before making any more policy moves. Mester said the central bank could pause or even stop tightening now depending on inflation. She said that the two rate hikes penciled in by the central bank for 2019 could happen and that would be a good sign that the economy was performing well. Mester said she didn't support any slowdown in the pace of the shrinking of the balance sheet but said if the economy weakened markedly that a change was possible. Pressed on whether she supported further rate hikes, Mester said she didn't have to vote now and would wait for more information. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.