Fed's Mester: With inflation high, better to act “aggressively” – by fx_ross Fed CentralBanks DollarIndex
Cleveland Fed President Loretta Mester said on Monday that if there is an error to be made, better that the Fed do too much than to do too little.
Mester said she will "guard against being complacent" on long-term inflation expectations that have recently dropped a bit but may not, she said, be as well-anchored as hoped and could rise again.Policymakers faced with uncertainty over inflation expectations should risk setting policy too tight rather than too loose, she said.
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