Cleveland Fed President Loretta Mester, as quoted in a report published in the Wall Street Journal, said that solid US economic growth, low unemployment and stable inflation justifies continued interest rate increases.
• The economy can certainly handle two more rate hikes this year.
• Would end up getting behind if we don’t move things up.
• The Fed is expected to raise rates to 3% to reach a neutral level.
• The Fed is very near its goals.
• Doesn’t believe that the Fed could afford to wait to see if inflation moves higher before raising rates.
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