Economics
Fed's Mester Lays Out the Case Against a July Interest-Rate Cut
- Cleveland Fed chief says downside risks to economy have risen
- ‘Most likely’ outcome would be continued solid growth in 2019
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Loretta Mester has laid out the argument against a rate cut this month, while many of her colleagues are leaning hard toward it and investors assume it’s on the way.
The president of the Cleveland Fed, speaking Tuesday in London, said her baseline forecast calls for slower, but still solid, growth of around 2% in 2019 -- even as she acknowledged that downside risks are on the rise.