Fed's Mester says central bank won't let inflation run rampant

FILE PHOTO: Cleveland Federal Reserve Bank President Loretta Mester poses during an interview on the sidelines of the American Economic Association’s annual meeting in San Diego, California, U.S., January 3, 2020. REUTERS/ Ann Saphir/File Photo

NEW YORK (Reuters) - The Federal Reserve will need to keep monetary policy accommodative for a while to support the struggling economy, but policymakers will not let inflation get out of hand, Cleveland Fed Bank President csaid on Wednesday.

“When you’re making policy, you have to look ahead but you also have to make sure you’re not missing some of the risks on either side,” Mester said during a question and answer session of a webinar organized by the NABE Foundation. “It’s important to know that we’re going to not let inflation run rampant.”

Reporting by Jonnelle Marte; Editing by Chris Reese