Fed’s Mester: reluctant to declare victory too soon on inflation

This advertisement has not loaded yet, but your article continues below. Author of the article: Article content Cleveland Federal Reserve Bank President Loretta Mester said on Thursday it could be “some time” before the central bank is convinced that inflation is cooling and it’s time to slow interest rate hikes. “It’s going to take some…
Fed’s Mester: reluctant to declare victory too soon on inflation

Author of the article:

Article content

Cleveland Federal Reserve Bank President Loretta Mester said on Thursday it could be “some time” before the central bank is convinced that inflation is cooling and it’s time to slow interest rate hikes.

“It’s going to take some time for us to be convinced that inflation is on a downward path,” Mester said, noting that rising rents are feeding into higher inflation readings, as are higher commodity prices. “I will be reluctant to declare victory too soon.”

(Reporting by Ann Saphir)

Article content

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
China ferrous futures slide as sluggish downstream demand weighs
Read More

China ferrous futures slide as sluggish downstream demand weighs

Author of the article: Reuters Min Zhang and Enrico Dela Cruz BEIJING/MANILA — Futures for Chinese ferrous raw materials tumbled on Monday, undermined by big drop in steel production and expectations of more output cuts in coming months, while steel prices were also hurt by stagnant downstream consumption. Crude steel output in the world’s top…
Boris Johnson quits as UK prime minister, dragged down by scandals
Read More

Boris Johnson quits as UK prime minister, dragged down by scandals

Author of the article: Reuters Kate Holton and Elizabeth Piper and Alistair Smout LONDON — Scandal-ridden Boris Johnson announced on Thursday he would quit as British prime minister after he dramatically lost the support of his ministers and most Conservative lawmakers, but said he would stay on until his successor was chosen. Bowing to the…