• Sat. Apr 20th, 2024

Cleveland Fed President Mester Discusses the Economy: Slow Growth and Inflation, Banks, and Stocks

BySamantha Jones

Apr 2, 2024
More Mester: Observing Deceleration in the Economy as it Rebalances

Cleveland Fed President Mester recently discussed the economy in a question-and-answer session, noting some signs of slowing but overall sees a rebalancing occurring. She also mentioned that disinflation can occur even in a strong economic environment. Furthermore, Mester stated that she does not believe the neutral interest rate will be as low as it once was and expects to see slower employment growth and a slight uptick in the unemployment rate while healthy labor markets should still be in place. However, she acknowledged that the average family is still struggling with inflation, which is affecting consumer sentiment.

In terms of banks, Mester mentioned that the Fed is working to ensure that they are prepared for the discount window and that commercial real estate risks for banks are manageable. Meanwhile, US stocks are lower but have rebounded from their lowest levels. The S&P index is down 51.17 points or 0.98% at 5192.39, with the 100-hour moving average at 5198.76. The Dow Industrial Average is down 463 points or 1.17% at 39103.40, and the NASDAQ index is down 214 points at 16182.

US yields are mixed and have decreased from their highest levels. The 2-year yield is at 4.695%, down 2.3 basis points, the 5-year yield is at 4.346%, up

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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