Fed’s Mester: Estimate of the longer-run nominal fed funds rate is 3 percent

More comments flowing in from Cleveland’s Federal Reserve (Fed) President Loretta Mester, via Reuters, as she continues to speak on the US economy and monetary policy.

US economy is slightly beyond level of full employment.

Impact of US tax cuts and government spending on the economy still uncertain.

Estimate of the longer-run nominal fed funds rate is 3 percent.