Fed’s Mester Says Case for November Hike Will Likely Be Strong
- Cleveland Fed chief says November FOMC is a ‘live’ meeting
- Mester tells Bloomberg TV the Fed should be forward-looking
Cleveland Fed Pres. Mester on Sept. Fed Decision
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Federal Reserve Bank of Cleveland President Loretta Mester said the economy is ripe for an interest-rate increase and repeated that the Fed’s November meeting should be viewed as “live” for a policy decision, despite its proximity to the U.S. presidential election.
“I would expect that the case would remain compelling” for a rate hike when the Federal Open Market Committee gathers in Washington Nov. 1-2, the week before Americans head to the polls, she told Kathleen Hays in an on Bloomberg Television Monday. Mester added that politics wouldn’t affect the decision.