Economics
Fed's Mester Warns Against Falling Behind With Rate-Hike Pace
- Central bank should continue with ‘gradual’ rate increases
- Sees positive signs of rising wages and business investment
Fed's Mester Warns of Falling Behind Rate-Hike Pace
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Federal Reserve Bank of Cleveland President Loretta Mester said the central bank should continue on its gradual path of raising interest rates to prevent the risk of overheating the U.S. economy.
“It’s important for the FOMC to remain very vigilant against falling behind as we continue to make progress on our goals,” Mester said in a Monday in Chicago, referring to the policy-making Federal Open Market Committee.