(CNBC) Cleveland Federal Reserve President Loretta Mester said last week she’s in favor of raising interest rates quickly to bring down inflation, but not so quickly as to disrupt the economic recovery. That means a strong likelihood of backing a 50-basis point rate hike at the next Fed meeting and perhaps a few more after, but not going to 75 basis points, as St. Louis Fed President James Bullard suggested earlier this week.
Fed’s Mester casts doubt on the need for ‘shock’ interest rate hikes ahead
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