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Fed’s Mester Sees U.S. Inflation Rate at More Than 2% Into 2023

  • Says China’s lockdowns put more upward pressure on prices
  • Voices confidence U.S. can avoid recession as Fed tightens
Loretta Mester
Loretta MesterPhotographer: Melissa Lyttle/Bloomberg

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Federal Reserve Bank of Cleveland President Loretta Mester said she’s confident that the U.S. will avoid a recession as the Fed tightens policy, though the inflation rate will probably remain at more than 2% into next year.