Economics

Fed's Mester Sees ‘Compelling’ Case for Rate Hikes: Jackson Hole

Fed’s Mester vs Bullard over need for further rate hikes
Symposium to focus on economic impact of corporate monopolies

Cleveland Federal Reserve President Loretta Mester discusses the Fed’s inflation goal.(Source: Bloomberg)

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By Christopher Condon, Piotr Skolimowski, and Matthew Boesler

August 24, 2018 at 12:00 AM UTC

Updated on

August 24, 2018 at 3:47 PM UTC

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Federal Reserve Chairman Jerome Powell praised the performance of former central bank leader Alan Greenspan for keeping interest rates low in the late 1990s. Greenspan spotted a productivity boom, created by expanding use of computers, before it was clear in the data.

The comparison was one of the highlights as discussions kicked off on Friday at the Jackson Hole, Wyoming annual symposium of central bank officials.