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Fed's Mester Shrugs Off Stocks Drop and Says U.S. Economy Sound

Cleveland Fed chief Mester expects 2016 growth of 2.5%-2.75%
San Francisco's Williams agrees gradual tightening warranted

Video player cover image — Is China a Significant Economic Risk?

By

Christopher Condon and

January 4, 2016, 6:51 PM UTCUpdated onJanuary 4, 2016, 8:36 PM UTC

Two regional Federal Reserve bank presidents, Loretta Mester of Cleveland and John Williams of San Francisco, dismissed concerns over stumbling stocks on the first trading day of the year and said the U.S. economy’s expansion was on solid ground.

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