The central bank official said she holds a 'positive baseline outlook' on the economy though she is monitoring risks to determine whether the Fed should cut interest rates, as the markets are currently demanding.
Despite market concerns over slower growth, Mester said the economy has proven "resilient" and could overcome the current headwinds.The Federal Reserve can afford to stand its ground on interest rates while it watches how challenges to economic growth unfold, Cleveland Fed President Loretta Mester said Tuesday.
Mester is a nonvoter this year on the policymaking Federal Open Market Committee, though she still offers input into its decisions. She has been one of the more hawkish members, meaning that she has been in favor of the move higher in interest rates over the past several years.
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