THE WASHINGTON POST: White House says ‘lines of communication’ with Russia are still open

“We have done so when it’s been necessary to clarify potential misunderstandings and try to reduce risk and reduce the possibility of catastrophe like the potential use of nuclear weapons,” he told the Economic Club of New York, according to Reuters. Sullivan met last week with Ukrainian President Volodymyr Zelensky and other senior officials in Kyiv.

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ECNY: Signature Luncheon

Join us for a signature Luncheon with Jake Sullivan, Assistant to the President for National Security Affairs.

ECNY: Webcast Virtual Event

Author Series

The Club is happy to present English journalist and author Sebastian Mallaby, Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations. Sebastian will talk about his new book: The Power Law, Venture Capital and the Making of the New Future.

ECNY: Webcast Virtual Event

We are pleased to kick off our New York City Series featuring Lee Zeldin, United States Congressman and Republican Nominee for New York State Governor. We have also invited Governor Hochel and will share details once confirmed.

ECNY: Signature Luncheon

Join us for a Signature Luncheon as we welcome Charlie Cook, Political Analyst, The Cook Report. Joining Charlie for this conversation is Bob Rubin, Former U.S. Secretary of Treasury as our Moderator. The two will discuss the upcoming midterm elections.

MARKET WATCH: Fed’s Mester says larger risks come from hiking rates too little
The Federal Reserve should be wary of wishful thinking about inflation that would lead the central bank to pause hiking interest rates or reverse course, Cleveland Fed President Loretta Mester said on Tuesday. “Given current economic conditions and the outlook, in my view, at this point the larger risks come from tightening too little and allowing very high inflation to persist and become embedded in the economy,” Mester said in remarks to the Economic Club of New York. Mester said her preferred path for the Fed’s benchmark rate is above the median forecast of the Fed’s “dot-plot,” which points to rates getting to a range of 4.5%-4.75% by next year.


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US NEWS MONEY: Fed's Mester Says Central Bank Has Yet to Make a Dent in Inflation

Federal Reserve Bank of Cleveland President Loretta Mester said Tuesday that even with a large amount of rate rises this year, the central bank has yet to get surging inflation under control and will need to press forward with tightening monetary policy.

“Unacceptably high and persistent inflation remains the key challenge facing the U.S. economy,” Mester said in a speech given before a gathering held by the Economic Club of New York. “Despite some moderation on the demand side of the economy and nascent signs of improvement in supply-side conditions, there has been no progress on inflation,” Mester said.
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BLOOMBERG: Fed's Loretta Mester Says More Restrictive Policy Needed to Cool Prices - Bloomberg

Federal Reserve Bank of Cleveland President Loretta Mester said officials need to keep raising interest rates and cannot get complacent as they work to battle the strongest inflation in a generation.

“Given the current level of inflation, its broad-based nature, and its persistence, I believe monetary policy will need to become more restrictive in order to put inflation on a sustainable downward path to 2%,” Mester said Tuesday in a speech to The Economic Club of New York.

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ECNY: Webcast Virtual Event

Diversity, Equity & Inclusion Series

We are honored to welcome Dr. Ruth Browne, President & CEO of Ronald McDonald House. Dr. Ruth Brown will discuss how the pandemic has caused a shift in the way her organization provides support and care and how they are overcoming these challenges to continue to drive a health equity agenda for families with pediatric illness in New York.

BLOOMBERG: Fed’s Mester Sees No Reason to Alter Balance-Sheet Runoff Plans
Federal Reserve Bank of Cleveland President Loretta Mester said the central bank should stick with its approach to shrinking its massive balance sheet, notwithstanding ongoing volatility in financial markets .

“I don’t see any need at the moment to adjust that plan. I think there is a lot of benefit to leaving that plan in place,” Mester said Tuesday during an interview with Kathleen Hays on Bloomberg Television. “Markets have understood the plan. They see it. They understand it.”

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BARRON'S: Cleveland Fed President Says There’s Been No Progress on Inflation, so Interest Rates Need to Move Higher

With little or no progress made on bringing inflation down, the Federal Reserve needs to continue raising interest rates, Cleveland Fed President Loretta Mester said Tuesday.

“At some point, you know, as inflation comes down, them my risk calculation will shift as well and we will want to either slow the rate increases, hold for some time and assess the cumulative impact on what we’ve done,” Mester told reporters after a speech to the Economic Club of New York.

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ECNY: Signature Luncheon

Join us for a Signature Luncheon as we welcome Loretta J. Mester, President and CEO of the Federal Reserve Bank of Cleveland. Loretta will join us to discuss monetary policy with respect to inflation and where current economic trends are headed.

NASDAQ: Fed's Mester says central bank has yet to make a dent in inflation
“Unacceptably high and persistent inflation remains the key challenge facing the U.S. economy,” Mester said in a speech given before a gathering held by the Economic Club of New York. “Despite some moderation on the demand side of the economy and nascent signs of improvement in supply-side conditions, there has been no progress on inflation,” Mester said.

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ECNY: Webcast Virtual Event

Diversity, Equity & Inclusion Series

Join David C. Banks, Chancellor of New York City Department of Education in conversation with Club Officer Ed Cox, as they will discuss the school system and how to build and maintain encouraging, diverse and safe learning environments for the children and families in New York City.

ECNY: Webcast Virtual Event

Diversity, Equity & Inclusion Series

We are honored to welcome Nancy Sims, President and CEO of the Toigo Foundation. With 30 plus years of experience in the financial services and nonprofit industries, Nancy will discuss the importance of a diverse workforce and how an increase in diversity of the organization across all levels, is imperative to the success of a company.

ECNY: Webcast Virtual Event

Author Series

Phil Gramm, American Economist and Former Texas U.S. Senator will virtually address our members. He will also discuss his new book "The Myth of American Inequality, How Government Biases Policy Debate."

ECNY: Signature Luncheon & Webcast

Signature Luncheon with David Malpass, President of The World Bank Group.

Developing countries are facing an unprecedented set of overlapping crises–the deepest global economic slump in 80 years, the worst food crisis in a decade, surging inflation, war in Ukraine, effects of climate change, and the continued negative effects of COVID-19. David will lead us in a conversation about the impacts on inequality and outline approaches that can help countries withstand these impacts, protect the poorest and most vulnerable, and restore economic growth.

ECNY: Webcast Virtual Event

Diversity, Equity & Inclusion Series

We are pleased to have Marc Norman, Larry & Klara Silverstein Chair in Real Estate Development & Investment, and Associate Dean of the Schack Institute of Real Estate at NYU join us in conversation with David C. Benson, President & Interim CEO, Fannie Mae. As a part of our DEI series, David will discuss ways to create a new roadmap for equity and sustainability for renters and homeowners in a fast-changing housing market.

ECNY: Webcast Virtual Event

Should corporations take position on social and political issues?

Join us fo a panel discussion with: H. Rodgin Cohen, Senior Chair, Sullivan & Cromwell LLP., Joele Frank, Managing Partner at Joele Frank, Wilkinson Brimmer Katcher, Tom Johnson, CEO of Abernathy MacGregor and Jeffrey Sonnenfeld, Senior Associate Dean and Lester Crown Professor at the Yale School of Management.

FORTUNE:  What Elon Musk, David Solomon, and other CEOs are saying about the likelihood of a recession–and how they’re preparing for it



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