Published Date Oct 11, 2022

BARRON'S: Cleveland Fed President Says There’s Been No Progress on Inflation, so Interest Rates Need to Move Higher

With little or no progress made on bringing inflation down, the Federal Reserve needs to continue raising interest rates, Cleveland Fed President Loretta Mester said Tuesday.

“At some point, you know, as inflation comes down, them my risk calculation will shift as well and we will want to either slow the rate increases, hold for some time and assess the cumulative impact on what we’ve done,” Mester told reporters after a speech to the Economic Club of New York.

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By Brenna Moses

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