Fed's Mester: Fed will be accommodative for a very long time

The US economy is in a slow recovery but vaccinations could lead to a strong increase in the activity, Cleveland Fed President Loretta Mester said on Monday, as reported by Reuters.

Additional takeaways

"Some sectors of the economy are doing much better than others."

"Fed will be accommodative for a very long time because the economy needs it."

"It's going to take a while for the economy to get back to maximum employment."

Market reaction

The US Dollar Index showed no immediate reaction to these remarks and was last seen posting small daily losses at 90.98.