Fed’s Mester sees a recovery or a ‘much more dire’ scenario as equally possible

Fed’s Mester sees a recovery or a ‘much more dire’ scenario as equally possible

Cleveland Federal Reserve President Loretta Mester echoed Chairman Jerome Powell’s mostly pessimistic view on the economy, telling CNBC on Wednesday that while growth is likely to return by the end of the year, it could be slow.

The central bank official said during a “Power Lunch” interview that unemployment is still likely to be near or above 10% as the U.S. struggles to regain momentum lost…

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