Central Banks
Fed Can Downshift From 75 Basis-Point Rate Hikes, Mester Says
- Cleveland Fed’s Mester says policy is entering a new ‘cadence’
- San Francisco Fed chief Daly cites lags, cumulative tightening
Loretta Mester
Photographer: Melissa Lyttle/BloombergThis article is for subscribers only.
Two Federal Reserve officials reinforced expectations the central bank will slow their pace of interest-rate increases next month, even as they stressed the need to keep tightening.
San Francisco Fed President Mary Daly and Cleveland’s Loretta Mester said during separate remarks Monday that inflation remains too high and policymakers have a way to go before completing their tightening campaign. But they both characterized the need for officials to be judicious as they calibrate policy.