Cleveland Fed President Loretta Mester, said in an AP interview, “We’re beginning to see the kind of actions that we need to see… Good signs that things are moving in the right direction … That’s important input into how we’re thinking about where policy needs to go.”
“We’re starting to see our policy actions do what they’re intended to do,” she said. “But I do believe we have to continue raising … and then hold for a while so that we get back to price stability in a timely way.”
“We’re not at 5% yet, we’re not above 5%, which I think is going to be needed given where my projections are for the economy,” she said. “I just think we need to keep going, and we’ll discuss at the meeting how much to do.”
