Fed Mester signals need for further rate hike, foresees no impending recession

In a speech delivered today, Cleveland Fed President Loretta Mester expressed surprise at the resilience shown by the economy which, in her words, “has shown more underlying strength than anticipated earlier this year.” However, Mester also raised concerns regarding the stubbornly high inflation rates, noting that “progress on core inflation [has been] stalling.” “In order […]

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