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MNI INTERVIEW (RPT): Fed's Mester: Rates Likely Above Neutral

(MNI) Washington

A 2.5% fed funds rate could still be accommodative, Cleveland Fed President Loretta Mester tells MNI.

(Repeats article first published on May 17.)

The Federal Reserve likely needs to move monetary policy to a restrictive stance to contain inflation, Cleveland Fed President Loretta Mester told MNI Monday, warning that the Fed's estimate of the nominal longer run fed funds rate of 2% to 3% might still leave policy too accommodative.

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(Repeats article first published on May 17.)

The Federal Reserve likely needs to move monetary policy to a restrictive stance to contain inflation, Cleveland Fed President Loretta Mester told MNI Monday, warning that the Fed's estimate of the nominal longer run fed funds rate of 2% to 3% might still leave policy too accommodative.

Keep reading...Show less