Central Banks
Mester Sees Fed Gaining Confidence to Cut Interest Rates Later This Year
- Cleveland Fed chief cautions against lowering rates too soon
- Minneapolis chief Kashkari says more inflation progress needed
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Federal Reserve Bank of Cleveland President Loretta Mester said policymakers will probably gain confidence to cut interest rates “later this year” if the economy evolves as expected, but said she doesn’t see a need to rush.
Meantime, she said Fed officials want to see more evidence that inflation is cooling toward their 2% target, and cautioned against lowering borrowing costs too soon.