The Federal Reserve has not fallen behind the curve, according to Loretta Mester, President and CEO of the Federal Reserve Bank of Cleveland. Mester spoke to the New York Association for Business Economics on Friday, and highlighted her outlook for the economy. In the speech, Mester made the case that the Fed's hold on raising interest rates in March did not put them in danger of falling behind the economy. "I do not think the FOMC is behind the curve, but while there are risks to moving too soon, there are also risks to waiting too long to take the next steps on the normalization path given the lags with which monetary ...READ MORE
