Cleveland Fed President Loretta Mester said she’s “comfortable with tapering some time this year”. She wanted it “completed by the middle of next year”. She added that there is “no need” for the kind of accommodation as “at the height of the crisis”.
Mester said she is watching “if one-off price increases become embedded in inflation expectations.” She is “very watchful” on the inflation side and she now thinks “it will be more prolonged”.
