off-the-wire

Fed's Mester: Not ready to say if Fed needs bigger rate rise at next FOMC meeting

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Michael S. Derby Feb 16 (Reuters) - Federal Reserve Bank of Cleveland President Loretta Mester said Thursday that she’s not ready to say the U.S. central bank needs to change the pace of rate rises at coming meetings.


While she reckons the Fed may have needed to raise rates by more than it did at its most recent Federal Open Market Committee meeting, “I’m not presupposing what the next rate move will be,” Mester told reporters after a speech.


The Fed raised its interest rate target by 25 basis points at the start of this month but Mester said in her speech there was a good case to go by half a percentage point given the strength of the economy.
(Reporting by Michael S. Derby)

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