Cleveland Fed hawk Mester said 151k is a solid labor market report
Cleveland Fed hawk Mester said 151k is a solid labor market report, and reiterated all FOMC policy meetings are live in a CNBC interview. She noted today's jobs number is about double what's needed to keep the unemployment rate stable. Indeed, she does believe the economy is at full employment and has met its dual mandate, and those factors support her call for a rate hike. The Fed has to be forward looking too, and policymakers go into meetings on apolitical footing, she stressed. The economy has proven to be quite resilient to the various headwinds, while inflation has started to move up toward the 2% goal, so it makes sense for the Fed to raise rates. She doesn't believe the Fed is doing harm by keeping rates near zero. Remember that Mester is one of the five voting presidents, and was one of the three dissenters (along with George and Rosengren) at the September FOMC.