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.
Loretta J. Mester, president and CEO of the Federal Reserve Bank of Cleveland, looks on at Teton National Park where financial leaders from around the world gathered for the Jackson Hole Economic Symposium outside Jackson, Wyoming, U.S., August 26, 2022. REUTERS/Jim UrquhartJACKSON HOLE, WYOMING, Aug 26 - Beating inflation will probably require one more U.S.
"The longer we let inflation remain above 2%, we're building in a higher and higher price level," she said, and that hurts American households. "And I think that's why timely matters to me."stop hiking 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.
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