Central Banks
Fed’s Mester Backs November Rate Hike If Economy Holds Steady
- Future policy decisions to be based on incoming economic data
- Mester repeats federal funds rate is probably at or near peak
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Federal Reserve Bank of Cleveland President Loretta Mester said she would support another interest-rate increase at the Fed’s next policy meeting if the economy is performing about the same as at the time of the September gathering.
“If the economy looks the way it did at the next meeting similar to the way it looked at our recent meeting, I would do the further rate increase,” Mester told reporters on a conference call Tuesday.