Fed’s Mester lauds jobs report, but says loose policy is staying put


Loretta Mester, president and chief executive officer of the Federal Reserve Bank of Cleveland.

David Paul Morris | Bloomberg | Getty Images

March’s strong job gains weren’t enough to convince Cleveland Federal Reserve President Loretta Mester that it’s time to change monetary policy.

The central bank official told CNBC on Monday that she welcomed news that nonfarm payrolls rose 916,000 for the month, thanks to a surge in leisure and hospitality jobs as well as a jump in government and construction hiring.

But the Fed remains committed to keeping rates low until the employment picture brightens considerably, she added.

“I’m thinking that we’ll see a very strong second half of the year, but…


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