Cleveland Fed President Loretta Mester on Friday put the possibility of a 75 basis point rate hike back on the table for September.
In a speech to a European Central Bank Conference, Mester said she expects to support 50 basis point rate hikes at each of the Fed’s next two meetings, set for mid-June and late July.In a speech to a European Central Bank Conference, Mester said she expects to support 50 basis point rate hikes at each of the Fed’s next two meetings, set for mid-June and late July.
“If by the September FOMC meeting, the monthly readings on inflation provide compelling evidence that inflation is moving down, then the pace of rate increases could slow, but if inflation has failed to moderate, then a faster pace of rate increases may be necessary,” Mester said.Earlier this month, Fed Chairman Jerome Powell said a 75 basis point rate hike was not being “actively considered” by the Fed.
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