Loretta Mester - Federal Reserve


Last quote by Loretta Mester

In a world where counter-cyclical fiscal policy is constrained, business cycle volatility could rise, and monetary policy could find itself near the zero lower bound more often, potentially requiring the use of nontraditional policy tools such as asset purchases and forward guidance in order to meet monetary policymakers' economic objectives.feedback
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Nov 16 2017
This page is completely dedicated to what Loretta Mester has to say. All of Loretta Mester’s quotes are organized here by date and topic. The most recent quote attributed to Loretta Mester came from an article called Federal Reserve president says country needs more immigration to save economy: “If financing the funding shortfall through increased government borrowing is undesirable, raising taxes and reducing benefits or other expenditures are not very appealing either. Depending on how such policies are implemented, they could ultimately hurt the economy's longer-run growth prospects, leaving the fiscal outlook even worse.”.
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Loretta Mester quotes

Aug 24 2017

Globalization and technological change is here to stay. And the promise of those is very good - we know that it can raise standards of living. It's just how do you make sure that it's distributed in a way so that the majority of people benefit.feedback

May 31 2017 - Immigration

Given U.S. demographics, immigrants will become an increasingly important source of labor supply for the U.S. This suggests that a well-thought-out immigration policy that attracts labor to the U.S. is also a necessary ingredient to support longer-run growth.feedback

May 18 2017

I think that it's important for the FOMC to remain very vigilant against falling behind, especially given the low level of interest rates and the large size of our balance sheet.feedback

May 08 2017

It alleviates some concern in terms of will you see developments in Europe that will then feed through back to the U.S. There is also a longer run issue about what does it mean for the integration of Europe - will it stay together - and I think that's more positive that it will sort of not be breaking apart.feedback

May 08 2017

We have met the maximum employment part of our mandate and inflation is nearing our 2 percent goal. Although we live in a high-frequency world, we cannot overreact to transitory movements in incoming data.feedback

Mar 22 2017

In my view, if economic conditions evolve as I anticipate, I would be comfortable changing our reinvestment policy this year. I actually built into my forecast more than three because I have the economy a bit stronger. An upward policy path will help prolong the expansion, not curtail it.feedback

Feb 21 2017 - Federal Reserve

The return to primarily Treasuries will take some time, but it will be welcome because ... it may help guard against future calls for the Federal Reserve to enter into the realm of fiscal policy.feedback

Feb 21 2017 - Oil

We did have a temporary oil price shock which held down inflation, we had the dollar appreciation which held down inflation. Those have passed through and the trend in inflation is, it's moving up. So I'm comfortable that inflation is near its goal and moving toward its goal... I'd be comfortable with an increase in the (federal) funds rate at this point, if the economy keeps going the way it's going.feedback

Jan 06 2017

I've been a little more, seeing a little more strength in the economy.feedback

Dec 12 2016

We do look at a number of rules ... but monetary policy isn't a simple thing. I hope that any change that Congress pushes through is done in a thoughtful way and doesn't disrupt the benefits that we have in the current system.feedback

Nov 30 2016

I view a small step up in interest rates as appropriate, not because I want to curtail the expansion, but because I believe it will help prolong the expansion.feedback

Nov 30 2016

We know that monetary policy affects the economy with long and variable lags, so policy actions have to be taken before our policy goals are fully met. The lesson that policy should be forward looking is based on the history of poor outcomes when that strategy hasn't been followed and we've fallen far behind the curve.feedback

Oct 07 2016

A gradual path of higher rates is appropriate.feedback

Oct 07 2016

In terms of our two monetary goals, it makes sense to move up the rate another 25 basis points. I think all meetings are on the table, and we're an apolitical institution. We are technocrats. I go in thinking about what's best for the economy in my view, and that's what I base my decision on.feedback

Oct 07 2016

I think we're at full employment... It makes sense to move up the rate another 25 basis points.feedback

Oct 07 2016

This is a solid number. This is very consistent with what we expected to see, certainly with my forecast.feedback

Oct 06 2016

We have made progress on both (of the Fed's) mandates.feedback

Oct 03 2016

We have to be a little pre-emptive in making sure that we're moving the interest rate up so that we can keep the expansion sustained.feedback

Sep 29 2016

Policymakers...should not throw out all that's been learned from past experience or be led astray by thinking this time is completely different.feedback

Sep 28 2016

The underlying strength in the economy is demonstrated by the resiliency it has shown through a number of bumps along the road of expansion.feedback

Sep 28 2016

In addition, if we delay too long and then find ourselves in a situation where the labor market becomes unsustainably tight, price pressures become excessive, and we have to move rates up steeply, we could risk a recession, a bad outcome that history tells us disproportionately harms the more vulnerable parts of our society.feedback

Sep 28 2016

If we continue to delay even as we make further progress on our inflation goal and labor markets continue to tighten...and we have to move rates up steeply, we could risk a recession.feedback

Sep 28 2016

The economic fundamentals of the U.S. economy remain sound.feedback

Sep 01 2016

It seems like a gradual increase from a very low interest rate that we are at now is pretty compelling to me.feedback

Aug 26 2016

I think the economy is on a good track. I think the employment numbers show that, I think the inflation's numbers are coming up slowly, they're below our target still but they're moving in the right direction.feedback

Aug 26 2016

I go into the meetings with an open mind. I like to hear what my colleagues say, I like hearing diverse views about the economy. And of course, we all have our own forecasts and frameworks for doing policy.feedback

Aug 26 2016

We'll have some strengthening in the second half of the year.feedback

Aug 26 2016

I see a gradual upward pace in interest rates as being appropriate. Now, that doesn't mean we're behind the curve now. But I do think that it makes sense to be starting to move interest rates up on that gradual path.feedback

Jul 13 2016

Payroll growth slowed considerably in May, raising the question of whether we were at the start of a reversal from the considerable progress that's been made in labor markets, or whether the weak reading was the type of transitory change we typically see during expansions.feedback

Jul 12 2016

If our macroprudential tools proved to be inadequate and financial stability risks continued to grow, I believe monetary policy should be on the table as a possible defense. The Fed's key price stability and maximum employment goals usually align with its desire for a stable financial sector.feedback

Jul 01 2016

Waiting too long increases risks to financial stability and raises the chance that we would have to move more aggressively in the future, which poses its own set of risks to the outlook.feedback

Jul 01 2016

If we fail to gracefully navigate back toward a more normal policy stance at the appropriate time, then I believe there is a non-negligible chance that these tools will essentially be off the table because the public will have deemed them as ultimately ineffective. This is a risk to the outlook should we ever find ourselves in a situation of needing such tools in the future.feedback

Jun 04 2016

You can't read too much into one number, but it is certainly part of the data that will be taken into account as we go into the June FOMC meeting and for the rest of the year.feedback

Jun 04 2016

If our macro prudential tools proved to be inadequate and financial stability risks continued to grow, I believe monetary policy should be on the table as a possible defense.feedback

Apr 01 2016

Some parts of the economy are doing better than others. But the message I take from U.S. economic performance is that despite financial market volatility, despite the pain inflicted on the energy sector from falling oil prices, and despite the relatively weak growth abroad, the U.S. economy has proven to be remarkably resilient.feedback

Apr 01 2016

She understands arguments against hiking. We live with uncertainty and one could always make the case that we should wait to act until we gather more information. But waiting until every piece of data lines up in the correct way means waiting too long and risks having to move rates up more aggressively in the future, with negative impacts on our economy.feedback

Feb 19 2016

These more likely reflect changes in liquidity premia and inflation risk premia rather than changes in inflation expectations.feedback

Feb 19 2016

She believes "the appropriate policy path will involve gradual reductions over time in the extraordinary level of accommodation that was necessary to address the Great Recession.feedback

Jan 08 2016

I would feel better if we could get a few more rate increases and not have to worry about the balance sheet. There's no compelling reason now to shrink the balance sheet.feedback

Jan 04 2016

I'm pretty comfortable with the median path ... I think that's not a bad description.feedback

Jan 04 2016

I don't see anything in the data that has changed the dynamics of inflation.feedback

Jan 03 2016

I fully supported the ... December action. It was prudent to take the first step on the path of gradual normalization of interest rates.feedback

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