Ella 
On Wednesday, Cleveland Fed President Loretta Mester spoke at the “Central Banking in the Financial System in the Post-COVID-19 Pandemic” conference. Mester said keeping interest rates restrictive is not that concerning for now given the strength of the job market.
Fed maintains cautious stance after April’s CPI inflation spurred rate cut expectations
Key quotes
Economic growth is expected to be above trend this year.
It is unclear where inflation will go in the future.
Inflation will fall, but it will take longer.
Given the strong job market, there is currently little risk in maintaining restrictive interest rate policies.
The policy positioning is accurate, but economic data needs to be monitored.
Interest rate policy currently remains stable and the job market is healthy.
Restrictive policies are expected to be lower than expected.
Inflation data needs to be watched for a few more months.
