tweet at 3:03pm: Fed's Mester says current risk to economy weighted to downside $DXY tweet at 3:00pm: Cleveland Fed President Mester: Economic Risks Are Weighted To The Downside -Needs To Take Time To Assess Economic Conditions And Then Move Policy As Appropriate -US Economy Likely To Grow Around Trend, With Inflation Rising To Fed Target, But There Are Risks tweet at 3:00pm: Cleveland Fed President Mester: I Would Have Preferred To Have Held Rates Constant In July But It Was A Close Call -Salient Question Is Whether To Cut Rates Or Keep Them Steady -Can See Scenarios Where Rates Are Steady Or Moved LowerFed's Mester weighing argument for U.S. rate cut One Federal Reserve policymaker who opposed the Fed’s recent rate cut is considering whether to support such a move now given risks that a U.S.-China trade war and global slowdown could derail the economy. “I could see scenarios where we hold rates steady. I could see scenarios where we move the rate down. I think we just have to take the time to really evaluate,” the state of the economy, Cleveland Fed President Loretta Mester told Reuters in her first public remarks since the Fed last month lowered borrowing costs for the first time since 2008. Mester said she still forecasts the U.S. economy to grow in line with its long-run potential this year, with inflation rising to the Fed’s 2%-a-year goal, but risks to that outlook are serious and “weighted to the downside.” Still, fairly strong economic data, particularly on the labor market and inflation, led Mester to not support what she said was the “close-call” decision to cut rates despite signs of weaker business spending and signs of a manufacturing slowdown.