Federal Reserve Bank of Cleveland President Loretta Mester speaks on her economic outlook before the 50 Club of Cleveland Monthly Meeting.
- Monetary policy path depends on how economy performs
- Fed will likely need
to hike rates one more time this year - Economy on ‘good
path’ amid ongoing rebalancing of supply and demand - Job market strong
but slowing, coming into better balance - Inflation ‘too
high’ but sees welcome signs of progress lowering price pressures - Fed will need to
keep rates high to ensure return to 2% inflation - Economy has grown
more strongly than expected - Risks to inflation
tilted toward upside - Credit conditions
have tightened in line with monetary policy - Sees some signs wage
pressures are easing
Mester with quite a few remarks indicating the need for another hike may be dissipating but says anyway that its likely there will be one more.
This article was written by Eamonn Sheridan at www.forexlive.com. Source