SAN DIEGO/BALTIMORE: Federal Reserve policymakers who last year were frequently at odds over where to set U.S. borrowing costs opened 2020 telegraphing confidence in the state of the economy and signaling broad agreement that monetary policy is right where it should be.
Mester had been among a handful of Fed policymakers who argued last year that the U.S. economy did not need lower rates to continue to grow. The clutch of comments on Friday shows how comfortable most Fed policymakers are that the 2019 rate cuts will prove a sufficient buffer against the risks that spurred them into providing the stimulus, including slowing global growth and escalating trade tensions.
Inflation has been running below the Fed's 2per cent target, and that is worrying some policymakers including San Francisco Fed President Mary Daly.
Source: Loan Digest (loandigest.net)
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