By Michael S. Derby NEW YORK (Reuters) - Federal Reserve Bank of Cleveland President Loretta Mester said on Friday it's quite possible the central bank ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSNEW YORK - Federal Reserve Bank of Cleveland President Loretta Mester said on Friday it's quite possible the central bank will raise rates again.
She said the key issue for the central bank is to decide how restrictive monetary policy needs to be, and how long it needs to stay at those levels. Inflation has been falling but it is still at unacceptably high levels by Fed reckoning. Given how much the Fed has boosted its target rate, there is an ongoing debate as to whether the central bank needs to do more or allow the full weight of its past actions to do the heavy lifting of lowering inflation.
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