Fed's Mester: Rates in 'Good Place' for Now, But Cuts Possible Later in 2019

Mester expects the Fed will be able to cut interest rates later this year, but sees no urgency to act right now
She believes rate policy is currently in a "good place" to assess economic performance
Mester reiterated her view that inflation will continue moving back toward 2%, though maybe slowly
She said the bigger mistake would be cutting rates too soon without evidence inflation is on a sustainable path to 2%
Mester expects the Fed will begin gradually cutting rates at some point later this year if the economy performs as projected