Fed’s Mester believes monetary policy isn’t the cure for low productivity

Omkar Godbole FXStreet Contributor

Dr. Loretta Mester, President of the Federal Reserve Bank of Cleveland, while speaking in Singapore said the US economy is on a sound footing, but the low US productivity conundrum may not be solved by monetary policy.

Mester added that the central bank will take ‘time’ to shed the mortgage bonds in the Fed’s portfolio.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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