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Fed's Mester: Monetary policy is in a good place, inflation is low

"The monetary policy is in a good place, inflation is low," Cleveland Fed President Loretta Mester said during an interview with Bloomberg TV on Friday. Commenting on the coronavirus crisis, Mester said there could be a spillover to the US economy in the first quarter.

Key quotes

"Consumer is driving things but the business side is weaker."

"Some uncertainty around trade has gone down after phase 1 deal."

"Outlook for the economy is still good, notwithstanding coronavirus risk."

"I think inflation will gradually hit 2% at the end of 2020 or early next year."

"There are a number of aspects we need to study before issuing central bank digital currency."

"Treasury bill purchases targeting repo market are not QE."

"Not a fan of negative interest rates for the US economy."

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