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- Fed's Mester: We don't rule out 75 bps hike forever
Fed's Mester: We don't rule out 75 bps hike forever
Cleveland Fed President Loretta Mester said on Tuesday that they don't rule out a 75 basis points rate hike forever, as reported by Reuters.
Additional takeaways
"Pace we are going right now seems about right."
"Aim is to use tools to get demand in better alignment with supply."
"But I don't want to rule anything out on hikes for the second half of the year."
"It all depends on inflation's path."
"We do need to be committed and resolute on curbing inflation."
"Fed's task is not going to be smooth, unemployment may have to rise in order to bring inflation down."
"I am very focused on inflation side of the equation."
"Given inflation, I think we'll have to move above neutral, not clear how far."
"We've got to see how the economy plays out in the second half of the year."
"We have to do what we can with our tools."
"Inflation is just way too high, longer it stays at that level, bigger risk inflation expectations will move up."
Market reaction
The US Dollar Index posts modet daily gains above 103.90 after these comments.
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