- Analytics
- News and Tools
- Market News
- Fed's Mester: Fed will need to go above 5% and stay there for a while
Fed's Mester: Fed will need to go above 5% and stay there for a while
Federal Reserve Bank of Cleveland President Loretta Mester said on Thursday that she saw a 'compelling case' for a 50 basis points (bps) rate hike at the last FOMC meeting, as reported by Reuters.
Key takeaways
"Fed has more work to do to control inflation."
"Fed will need to go above 5% and stay there for a while."
"Transition back to price stability will bring some pain."
"How far Fed goes above 5% depends on data."
"Upside risks to inflation remain in place."
"Fed actions will slow growth, push up unemployment."
"January CPI data showed still more to do on cooling inflation."
"Inflation levels remain too high."
"Bigger risk is to undershoot in effort to control inflation."
"How far Fed goes with future hikes depends on inflation."
"Expecting to make good progress on lowering inflation."
Market reaction
The US Dollar holds its ground against its major rivals following these comments and the US Dollar Index was last seen rising 0.12% on the day at 103.93.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
