Cleveland Fed President Loretta Mester told CNBC she didn’t see a case for slowing down tightening right now. She said, “We can have that conversation (about a pause) but we’re still not even in restrictive territory on the funds rate.”
“I probably am a little bit above that median path because I see more persistence in the inflation process,” Mester added. Getting above a 4% fed funds rate is important to helping to lower inflation, she said.
Separately, St. Louis Fed President James Bullard said, “If you look at the dots, it does look like the committee is expecting a fair amount of additional moves this year. I think that that was digested by markets and does seem to be the right interpretation.”
