Fed's Mester: Not adjusting policy stance based on recent market drop

Cleveland Federal Reserve President Loretta Mester recently crossed the wires arguing that they would adjust the monetary policy stance based on the recent market drop, as reported by Reuters.

Key quotes

• A prolonged market downturn, buildup in risks would affect U.S. economic data.
• There are no signs of a pending U.S. recession.
• Underlying U.S. economy is 'strong'.