Fed Mester: Russia invasion adding upside risk to inflation, downside risk to growth

Cleveland Fed President Loretta Mester said yesterday that Russia’s invasion of Ukraine could push inflation up higher. “The unfolding event has implications for the economic outlook, adding upside risk to inflation even as it puts downside risks to the growth forecast,” she said. “The challenge facing Fed policymakers is how to recalibrate monetary policy, reducing […]

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