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Fed's Mester: US economy can handle a rate hike

Sunday, Oct 18 2015
Speaking for Fox Business Fed's member Mester US economy can handle rate increase. He said that US economy is at or near full employment, but there are downside risk to US from global growth. He believes that gradual upward path of rates is more important than timing.
 
He favors raising rates in quarter point increments and that Fed should be transparent and communicate clearly. In his opinion the more the delay presents more risks. Mester is not upset by the fact that Fed members have differing views. Stress should be on the economy, not on politics, and the Fed should make the policy on what with economy can handle.
 
USD strengthen against its major rivals on Friday. Euro is currently being traded around 1.1350 area, Sterling is at 1.5440 level, while Aussie is above 0.7260 area.
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