No Widgets found in the Sidebar
More Mester: Observing Deceleration in the Economy as it Rebalances

Cleveland Fed President Mester recently discussed the state of the economy in a question-and-answer session, stating that while some signs of slowing were apparent, a rebalancing was occurring. She also pointed out that disinflation can happen even in a strong economic environment. Mester expressed her belief that the neutral interest rate would not be as low as it once was and expected slower employment growth and a slight increase in the unemployment rate, although healthy labor markets would still exist. However, she acknowledged that inflation was still causing problems for the average family, affecting consumer sentiment.

Mester also discussed the Fed’s efforts to ensure banks were prepared for the discount window and that commercial real estate risks for banks were manageable. In terms of stocks, US stocks had fallen but had bounced back from their lowest levels. The S&P index was down 51.17 points or 0.98% at 5192.39, with the 100-hour moving average at 5198.76. The Dow Industrial Average was down 463 points or 1.17% at 39103.40, and the NASDAQ index was down 214 points at 16182.

Yields in the US were mixed and had decreased from their highest levels. The 2-year yield was at 4.695%, down 2.3 basis points, while the 5-year yield was at 4.346%, up by just over half a basis point from its highest level earlier this year

By Samantha Jones

As a dedicated content writer at newsaca.com, I bring a unique blend of creativity and precision to my work. With a passion for storytelling and a keen eye for detail, I strive to craft engaging and informative articles that captivate our readers. From breaking news to thought-provoking features, I am committed to delivering content that resonates with our audience and keeps them coming back for more. Join me on this exciting journey as we explore the ever-evolving world of news and information together.

Leave a Reply