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Transcript: The Path Forward: The U.S. Economy with Loretta J. Mester

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MR. LYNCH: Hello, and welcome to Washington Post Live. I’m David J. Lynch, Global Economics Correspondent here at The Post. And today, I’m joined by Loretta Mester, president and CEO of the Federal Reserve Bank of Cleveland, for a discussion about inflation and the state of the U.S. economy.

President Mester, welcome.

MS. MESTER: Hey, thank you. Great to be with you.

MR. LYNCH: No, first things first: You mind if I call you Loretta?

MS. MESTER: I would love that, and I think that’s very good. And I’ll call you David?

MR. LYNCH: Fair enough. I’ve been called worse.

MS. MESTER: [Laughs.] So have I.

MR. LYNCH: So, I’d like to start with a question about an issue that’s gotten a lot of public attention recently, and it boils to whether the U.S. is or is not in a recession. And on the one hand, we’ve learned recently that the economy has now been shrinking for two consecutive quarters, which meets…

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