FED Whiplash: On Again, Off Again Rate Hikes Get Green Light From Cleveland President

  • President and chief executive officer of the Federal Reserve Bank of Cleveland, Loretta Mester said there was no “compelling” reason to wait before implementing another interest rate rise should economic data confirm that more must be done to bring US inflation under control.
  • The Fed bank president was pushing back against recent suggestions from some policymakers who argued the US central bank should forego a rate rise at its next meeting in June.
  • Mester said she could still be swayed by incoming employment data due on Friday as well as the next inflation report, which will be released ahead of the next Fed meeting on starting June 13.
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