Cleveland Fed President Loretta Mester said in a CNBC interview that “we’ll see a very strong second half of the year”. However, ” we are still far from our policy goals,” referring Fed’s dual mandate.
The March non-farm payrolls report was a “great” one. But Mester added, “we need more of them coming our way.” “I think we need to be very deliberately patient in our approach to monetary policy.”
Mester was not concerned with this year’s rise in treasury yields. “I think the higher bond yields are quite understandable in the context of the improvement in the economic outlook. The increase has been an orderly increase,” she said. “So I’m not concerned at this point with the rise in yields. I don’t think there’s anything for the Fed to react to.”
