• Cleveland Fed president Mester: Fed is looking for and basing policy decisions on outcomes - CNBC

Notícias do Mercado

4 junho 2021

Cleveland Fed president Mester: Fed is looking for and basing policy decisions on outcomes - CNBC

  • Says May employment report was solid but she wants to see further progress
  • Notes that the participation rate has only made it halfway back
  • Substantial further progress doesn't necessarily mean returning to pre-pandemic levels in labor market
  • There are several factors affecting labor supply including health concerns and child care
  • Says she's focused on prime-age workforce participation because of acceleration of retirement during pandemic
  • Fed wants to be deliberately patient with monetary policy
  • Fed will discuss policy stance as economy continues to improve
  • Fed is looking at what the data says and not just the forecast
  • Some valuations in stock market look higher than can be supported by fundamentals but Fed's policy is not driving that
  • Treasury market had issues at start of the pandemic and Fed is looking at longer-term issues
  • Expects to see progress continue to be made on the employment front
  • The key point is Fed is attuned to the risks on upside and downside

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