Loretta Mester
Dan Mescon | CNBC
Cleveland Federal Reserve President Loretta Mester told CNBC on Friday said that she sees no need to adjust the central bank's current monetary policy and supports the current wait-and-see approach.
Speaking from Stanford, California, Mester said that between robust job gains and stronger GDP growth, the Fed's best course is to continue to act in response to forthcoming economic data.
"I fully support our patient approach to looking at what the data's telling us as it comes in," Mester said from Stanford, California. "The job market is strong and today's report just reinforces that we have a strong labor market, which is great."
"We have inflation a little bit below our target, but stable prices. We have productivity growth growing, which is a good positive for the economy. And growth came in in the first quarter a little bit stronger than people had anticipated," she said.
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