Fed's Mester: Economic activity is levelling off

In  CNBC interview, Cleveland Fed President Loretta Mester says the resurgence of cases makes people more cautious and economic activity is levelling off.

Key comments

• Says it will be a long road back to where we were in February and fed anticipates having an accommodative monetary policy for quite some time.
• Says fed's liquidity actions are focused on market functioning, not asset prices.

More to come...