11/29/2023, 8:27 PM (Source: TeleTrader)
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Fed's Mester: Monetary policy in a good place

Cleveland Federal Reserve Bank President Loretta Mester said on Wednesday that "monetary policy is in a good place" that will provide the United States central bank with time and space to determine if the steps it has made would help it reach its price stability goal, adding that policy would still have to be "nimble."

Delivering remarks at a conference at Loyola University in Chicago, Mester noted that "there has been discernible progress on inflation," but warned that price growth is still above the 2% target. She acknowledged that the economy proved more resilient than expected.

Moving on the topic of banking sector stability, she called for new regulations to be centered on market values of balance sheets and said she is in favor of raising capital and liquidity requirements for banks.

Baha Breaking News (BBN) / MS