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Cleveland Fed’s Mester: Fed’s Focus is the Economy, Not Politics
The Federal Reserve and Chairwoman Janet Yellen make policy decisions based on economics and not politics, Federal Reserve Bank of Cleveland President Loretta Mester said Thursday. “I don’t think the Fed has become political….We’re going to focus on the economic developments,” Ms. Mester said during an interview on CNBC, a day after Ms. Yellen was grilled by House Republicans who accused her of partisan bias. “We’re going to focus on setting the best monetary policy that we can to further our dual mandate that’s given to us by Congress.” Some GOP lawmakers on Wednesday questioned Ms. Yellen’s ... (full story)