Economics
Mester Calls for More Clarity on How Fed Assesses Goals Progress
- Price increases are likely to persist for longer than thought
- Providing information to better understand goals is worthwhile
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The Federal Reserve has room to clarify and better outline the new metrics it’s using for some of its policy decisions, Cleveland Fed President Loretta Mester said.
Mester detailed the Fed’s new policy framework, adopted last year, and pointed to areas where the central bank could better explain how its assessing progress on its inflation and employment goals in prepared remarks for a virtual event on Friday hosted by the Bank of Finland and the Centre for Economic Policy Research.