The president of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Friday that it would still like to start reducing asset purchases sometime this year despite the weak jobs report for August, according to Reuters.
Featured statements
“I would be comfortable with the liquidation of asset purchases during the first half of 2022.”
“The delta variant is a risk to the outlook, but it is not necessarily going to weigh heavily on economic activity.”
“Employment is expected to continue to increase for the rest of the year.”
“Looking at labor force participation, employment-to-population ratio, unemployment rate, and racial and gender gaps when assessing the labor market.”
“Some more people will join the job market as problems with child care are resolved and some people are trained for new jobs.”
“I would have no problem with the Fed revising the rules on how officials should handle investments.”
Market reaction
These comments were largely ignored by market participants and the US Dollar Index was last seen losing 0.1% on the day at 92.42.
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