Federal Reserve's Harker: Open to reforming monetary policy interest rate targets

According to Jin Shi reports, Cleveland Fed President Mester said on Friday that she is open to reforming the interest rate targets used by the Federal Reserve to implement monetary policy. At an event hosted by the Dallas Fed, she pointed out that the structure of the money market has undergone profound changes, indicating that she is considering shifting from the current federal funds rate target to other interest rate indicators. Mester emphasized that there should be a broader exploration of how to optimally implement monetary policy.