Statement

Name: Loretta J. Mester

Summary: The U.S. Economy and Monetary Policy: "In summary, the economy has made substantial progress toward the Fed’s goals of maximum employment and price stability – enough progress that in December the FOMC moved its target federal funds rate up by 25 basis points from essentially zero, where it had stood for 7 years. Even with this increase, monetary policy is expected to remain accommodative for some time to come and will continue to support the expansion."

Lean: Neutral

Substantially Similar to Prior Statements: No

Statement Date: January 3, 2016

Publication Date: January 3, 2016

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