Fed Mester: Monetary policy needs to be in a restrictive stance

Cleveland Fed President Loretta Mester said yesterday, “when there is uncertainty, it can be better for policymakers to act more aggressively because aggressive and pre-emptive action can prevent the worst-case outcomes from actually coming about.” “Further increases in our policy rate will be needed,” Mester said. “In order to put inflation on a sustained downward […]

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