- Cleveland Fed president Mester: Inflation readings will be elevated for next couple of months because of math
Market news
11 May 2021
Cleveland Fed president Mester: Inflation readings will be elevated for next couple of months because of math
- Says April jobs report was disappointing but outlook is still bright
- Says childcare and vaccinations are main issues with the labor supply rather than unemployment benefits
- I don't think benefits are main issue but it helps to put people in a position to make the decision to stay home and look after the kids or wait for the vaccine
- Says she wants to see more and broader progress
- No doubt we are in recovery but will see some ups and downs
- Says she wants to see more strength in labor market and expecting that this year
- Supply chain issues are affecting certain products and commodities "very much so in their pricing"
- My expectation is that we'll end the year above 2% inflation but when that unwinds, we'll see it fall again in 2022
- I'm particularly focused on inflation expectations - I'll be looking at surveys and market-based measures - to see them rising and at what pace they're rising above 2%
- Says financial stability risks overall are moderate
- Volatility in markets is only a problem when it is coupled with high degrees of leverage
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