Fed to Be ‘Deliberately Patient’ on Asset Taper, Mester Says

Federal Reserve policy makers should be “deliberately patient” and wait to see more evidence that the U.S. labor market has made more progress before they consider cutting down their asset-purchase program, Cleveland Fed President Loretta Mester said.

“We want to be very deliberately patient here because, you know, this was a huge, huge shock to the economy,” Mester said in interview on CNBC Friday.