Federal Reserve's Mester crossed the wires, via Reuters, noting that recent market moves don't change US outlook, although she added that risks exist.

Headlines

Expects US. economy to overcome market turbulence and regain footing

Recent market moves do not change US outlook but there are risks

Only a steeper, longer drop in stocks could dampen US economic outlook

US economy 'solid' due to healthy jobs and income growth

Expects labor market improvement, lower unemployment this year

Oil drop means lower US inflation for longer than previously thought

Says might take longer to hit 2 pct inflation target

Surprisingly high oil production means lower oil for longer

Federal Reserve policy now well-calibrated to risks

Expects rates to rise gradually over time

Job growth is strong enough to lower the US jobless rate

Still sees gradual rate rises as appropriate

I haven't seen enough to change my modal outlook

Asked about earlier plans for 4 rate hikes this year, says has not changed US outlook

I like that we are" gradually raising rates, but would respond to slowdown

Skeptical of negative interest rates in the US

Likely not that effective

End portfolio reinvestments only after rates up to 1 pct or so

Policy will not reflect market expectations, which are apt to move

Does not want to take action that would be 'shocking' to markets

Federal Reserve should not be a mirror to financial markets

Shrinking balance sheets removes policy accommodation