Fed's Mester: Economic activity is levelling off

Ross J Burland FXStreet

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.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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