Fed’s Mester Suggests Higher for Longer on Interest Rates

Federal Reserve Bank of Cleveland President Loretta Mester thinks more data is needed by policymakers to be confident inflation is on a path to the central bank’s 2% target. Mester said, “holding our restrictive stance for longer is prudent at this point as we gain clarity about the path of inflation,” during remarks prepared for an event Thursday in Wooster, Ohio.
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