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Thursday, March 23, 2023

Companies should make own decisions on stock buybacks: Fed’s Mester

Companies should make own decisions on stock buybacks: Fed's Mester© Reuters. Loretta Mester, president of the Federal Reserve Bank of Cleveland, speaks during an interview in Manhattan, New York

LEXINGTON, Ky. (Reuters) – U.S. companies should be left to make their own decisions about whether to buy back their own stock given strong economic conditions, Cleveland Federal Reserve President Loretta Mester said on Wednesday.

“The economy overall is quite healthy and so in that sense – 3 percent growth last year is a healthy economy – so you want businesses to be able to make decisions like that on their own,” Mester said in response to a reporter’s question on the sidelines of an event in Lexington, Kentucky.

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Source: Investing.com

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