The president of the Federal Reserve Bank of Cleveland, Loretta MesterHe said in an interview on Bloomberg Television on Tuesday that as long as the economy is in March as it is now, he would support a rate hike at that month’s meeting.
Featured statements:
On the economy, inflation, the need for action …
“The economy is on the right track and inflation is more persistent.”
“The price increases have been extended.”
“The economy is stronger now and the balance sheet is much larger“.
“The assumption is really strong to start undoing the accommodative policy.”
“The Fed probably needs recalibrate your policy stance because inflation is above where the Fed needs it to be“.
“Is very important that the Fed take steps to reduce inflation given the environment. “
“It is clear that inflation is too high and the labor market is strong and the Fed needs to take action.”
“The Fed cannot ignore short- to medium-term rigidity in the labor market.”
“The Fed will do what it can to keep the economy on a positive trajectory.”
“This will be a challenge for the Fed, but that is its mandate.”
“Eventually we will return to a low inflation environment.”
About fit …
“We have seen some tightening of financial conditions in the market.”
“At the December meeting, three rate hikes were predicted for 2022“.
“La Fed you’ll have to see how the economy is doing before you know how many rate increases are needed“.
“The Fed should be able to deplete the balance sheet much faster than last time.”
“I would like to mark a path for the balance, to reduce the accommodative policy.”
On the ethics of the Fed …
“The Fed does not have an ethics problem.”
“There was an appearance problem even though the rules were followed in the trade.”
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