President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Wednesday that it is still not convinced that inflation in the United States has peaked, Reuters reports.
More information
“It is better for the markets to focus on the path of interest rates than on a specific meeting.”
“Policy needs to be guided by incoming data as it informs the outlook.”
“I will decide the preferred size of the rate hike at the September meeting itself.”
“Inflation expectations in the medium and long term remain in the range consistent with the 2% inflation target, but I am very attentive to it”
“The wage growth rate remains higher than what is consistent with 2% inflation.”
“Policy delays are a consideration for the future, not now with inflation this high.”
“Our challenge is to design a slowdown in activity without causing a recession.”
market reaction
dollar index fell after these comments and was last seen posting small daily losses at 110.20.
Source: Fx Street
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