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Fed’s Mester Sees Need for Some Half-Point Rate Hikes This Year

  • Cleveland Fed chief favors front-loading rate increases
  • Excess demand in economy means hikes won’t cause recession
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Powell Gets Fed Officials’ Support on Faster Rate Hikes
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Federal Reserve Bank of Cleveland President Loretta Mester says she supports front-loading interest-rate increases this year, likely including some half percentage-point hikes, to curb the hottest inflation in four decades.