Beating inflation will probably require one more U.S. interest-rate hike and then going on hold for 'a while,' Cleveland Federal Reserve Bank Loretta Mester...
Beating inflation will probably require one more U.S. interest-rate hike and then going on hold for “a while,” Cleveland Federal Reserve Bank Loretta Mester said on Saturday, adding that she may reassess her earlier view that rate cuts could start in late 2024.
They also thought that by next year the Fed will likely begin reducing interest rates again so that as inflation falls, they do not end up restricting the economy more than is needed.Mester said on Saturday that in June she also had penciled in rate cuts in the second half of 2024, but that when she and other Fed policymakers submit fresh forecasts ahead of their September rate-setting meeting, that might change.
Mester is not a voting member of the policy setting Federal Open Market Committee in 2023 but she will be in 2024.
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