Fed’s Mester: U.S. Economy is Solid but Brexit Did Increase Uncertainty

‘We have time to assess conditions,’ Cleveland Fed President says in WSJ interview

by Michael S. Derby
Market Watch

CLEVELAND — Federal Reserve Bank of Cleveland President Loretta Mester said Thursday the U.S. central bank has time to weigh the impact of the Brexit vote before making its next decision about raising short-term interest rates.

In a Wall Street Journal interview that saw her reaffirm her assessment the U.S. economy’s underlying state is “very solid,” Ms. Mester said “I don’t think that the Fed, in terms of the setting of monetary policy, is behind the curve. We do have time to assess conditions” and see whether the unexpected U.K. vote to leave the European Union will affect the path of the American economy

“I’ve been one of the more positive ones in terms of the outlook for the U.S. economy, and I continue to be positive about it.

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