Fed's Mester: We'll be growing below trend this year

Loretta J. Mester, president of the Federal Reserve Bank of Cleveland, joins Washington Post global economics correspondent David J. Lynch to discuss the Fed’s plan to tamp down on inflation and the concerns that it could induce a recession.

Key quotes

We'll be growing below trend this year.

We are not in a recession.

Haven't seen inflation cool ‘at all,’ reiterates commitment to bringing inflation under control.

Have to take Fed's models with ‘some caution’.

No slowdown in us labour markets, looking very healthy right now.

More to come...