"I don't think it's a positive outcome, but it may happen," Mester said. "We may have a mild recession - I can't rule that out. I haven't penciled that in to my own projection, but when you have growth well below trend, it wouldn't take that much of a negative shock -- but again I don't think that's necessarily a positive thing, that's not what we are engineering to do." (Reporting by Ann Saphir; Editing by Sandra Maler)
Feb 16 (Reuters) - As the Federal Reserve's higher
interest rates slow the economy, a recession may result,
Cleveland Fed President Loretta Mester said on Thursday, though
it's not part of her baseline forecast and is not what the
central bank wants.
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