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- Fed's Mester: If economy looks in March as it does now, would support a hike at that meeting
Fed's Mester: If economy looks in March as it does now, would support a hike at that meeting
Federal Reserve Bank of Cleveland President Loretta Mester said in an interview on Bloomberg Television on Tuesday that as long as the economy looks the way it does now in March, she would support a rate hike at that meeting.
Additional Remarks:
"The conomy is on a really good track and inflation is more persistent."
"Price increases have broadened."
"The case is really strong to begin to wind back accommodation."
"Penciled in three rate hikes for 2022 at the December meeting."
"Fed will have to see how the economy does over time before it knows how many rate increases are needed."
"Fed probably needs to recalibrate its policy stance because inflation is above where the Fed needs it to be."
"The Fed cannot ignore short run or medium term tightness in the labor market."
"The Fed should be able to run down the balance sheet much faster than it did last time."
"The economy is stronger now and the balance sheet is much larger."
"She would like to set a path for the balance sheet, which will reduce accommodation."
"It's really important the Fed take actions to bring inflation down given the environment."
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