10/3, 5:27 AM (Source: TeleTrader)
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Fed's Mester expects another rate hike this year

Cleveland Federal Reserve Bank President Loretta Mester indicated that the central bank will likely need to raise interest rates once more this year.

Mester emphasized that the future path of monetary policy hinges on the economy's performance and the ongoing rebalancing of supply and demand.

While acknowledging a strong job market, she noted a slowdown and the need to maintain higher rates to ensure a return to the Fed's target inflation rate of 2%.

Baha Breaking News (BBN) / NL