Fed’s Mester says policy will stay accommodative for ‘quite some time’

Fed’s Mester says policy will stay accommodative for ‘quite some time’


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Economy8 hours ago (Jan 04, 2021 07:55PM ET)

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© Reuters. FILE PHOTO: Cleveland Federal Reserve Bank President Loretta Mester poses during an interview on the sidelines of the American Economic Association’s annual meeting in San Diego
© Reuters. FILE PHOTO: Cleveland Federal Reserve Bank President Loretta Mester poses during an interview on the sidelines of the American Economic Association’s annual meeting in San Diego

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By Jonnelle Marte

(Reuters) -U.S. economic growth could surge later this year if most Americans are vaccinated against the coronavirus, but the gains would unlikely be enough for the Federal Reserve to withdraw its support, Cleveland Fed President Loretta Mester said on Monday.

The economy is likely to struggle in the near term after a rise in coronavirus infections led to more restrictions, both voluntary and mandated, Mester said.

While the “medium” term outlook was more promising, with vaccines likely to help

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