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Fed’s Mester Says CPI Data Gives No Reason for Smaller July Hike

  • Officials will watch retail sales and inflation expectations
  • Mester says inflation is Fed’s top job; recession risks rising
Bloomberg business news

WATCH: Federal Reserve's Mester: CPI Data Gives No Reason for Smaller Hike

Source: Bloomberg

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Federal Reserve Bank of Cleveland President Loretta Mester said a hot inflation report for June suggested officials should raise rates by at least 75 basis points later this month, but she declined to spell out if she would favor going even bigger.