Fed's Mester: Would re-evaluate policy if there were signs of weakness in hiring or consumer spending

Cleveland Fed President Loretta Mester said that she would re-evaluate the monetary policy if there were signs of weakness in hiring or consumer spending.

"Risks to the economy are still tilted slightly to the downside," Mester added while speaking to reporters after delivering her opening remarks at a conference on financial stability hosted by the Cleveland Fed. "I expect the US economy to grow by an average of 2% this year and for inflation to be slightly below 2%."

These comments don't seem to be having a significant impact on the USD's valuation. As of writing, the US Dollar Index was up 0.08% on the day at 97.95.