Rosy views of the economy were put forth by Federal Reserve Bank presidents Loretta Mester of Cleveland and James Bullard of St. Louis, speaking on television from the Jackson Hole, Wyo., summit Friday.
Mester said on CNBC she could see the economy growing 3% in the second half. She said every Federal Open Market Committee meeting is "live" for a rate hike, but didn't predict or offer her expectations as to which one would result in an increase.
Bullard told CNBC he's "agnostic" regarding when the rate increase may occur. While inflation is below target, he told Bloomberg TV, "it's not that low," at 1.6%.
