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MNI INTERVIEW2: Fed's Mester Sees Upside Risk to Inflation

(MNI) Washington

Cleveland Fed President not yet convinced inflation has peaked.

Cleveland Fed President Loretta Mester cautioned against concluding that U.S. inflation has peaked after CPI moderated for the first time in eight months in April, saying risks are still to the upside.

"I'm not convinced we’ve hit the peak," she said in an interview Monday. "The April report was more mixed. I want to see a string of these reports before I conclude that it's coming down. I haven’t seen compelling evidence that it's moved down."

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Cleveland Fed President Loretta Mester cautioned against concluding that U.S. inflation has peaked after CPI moderated for the first time in eight months in April, saying risks are still to the upside.

"I'm not convinced we’ve hit the peak," she said in an interview Monday. "The April report was more mixed. I want to see a string of these reports before I conclude that it's coming down. I haven’t seen compelling evidence that it's moved down."

Keep reading...Show less