US Monetary Policy is in a Good Place

Cleveland Fed President Loretta Mester said today that the current level of interest rates is appropriate for the US economy and that the Federal Reserve will keep its monetary policy as it is and monitor how the economy develops. Inflation rate is gradually moving towards the 2% target, and the Fed has cut interest rates three times this year. Federal Reserve Chairman Jerome Powell said he looked forward to keeping interest rates unchanged in the coming months unless there was a deterioration in the US economic outlook.