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Cleveland Fed President Loretta Mester's remarks on monetary policy at an event hosted by Stern's Center for Global Economy and Business are featured

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Excerpt from the Financial Times -- "Based on my current assessment of the outlook and the risks around the outlook, I believe the economy can handle an increase in the fed funds rate and that it is appropriate for monetary policy to take a step back from the emergency measure of zero interest rates. A small increase in interest rates from zero is not tight monetary policy."

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Additional coverage appeared on CNNMoney.