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- Fed's Mester: Doesn't think raising rates by 50bps in March is compelling
Fed's Mester: Doesn't think raising rates by 50bps in March is compelling
Cleveland Fed President and FOMC member Loretta Mester said on Thursday that she doesn't think raising interest rates by 50bps in March is compelling, according to Reuters.
Additional Remarks:
- Mester personally believes labor force participation will continue to move up from current levels but it is complicated to know when and by how much.
- Tightness in the labor market is not going to magically disappear any time soon and officials have to consider that for monetary policy.
- Mester supports raising the fed funds rate in march
- The Fed will have more information on the situation in Ukraine and on inflation over time.
- The Fed needs to have a series of movements for rate increases.
- A situation where the Fed raises rates once and stays steady for a year would not be appropriate now.
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