Fed's Mester: Economic activity is levelling off
|In CNBC interview, Cleveland Fed President Loretta Mester says the resurgence of cases makes people more cautious and economic activity is levelling off.
Key comments
- Says it will be a long road back to where we were in February and Fed anticipates having an accommodative monetary policy for quite some time.
- Says Fed's liquidity actions are focused on market functioning, not asset prices.
- Says she built additional fiscal policy into her economic forecast, individuals and governments need more help.
- Says if we don't get further fiscal support things won't come back as well as they could.
- Says further action from the fed will depend on what the economy looks like, monetary policy in a good spot right now.
Market reaction
There was no surprises in the comments here and the US dollar remains in recovery mode, higher by some 0.18% in thee DXY at the time of writing.
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