Cleveland Fed President Loretta Mester remains steadfast in her view that inflation is on track to Fed’s target, despite a month-over-month jump in the preferred inflation gauge.
Nevertheless, “it does show you there is a little more work for the Fed to do,” Mester said in a Yahoo Finance interview overnight.
Mester reiterated her December forecast of three rate cuts in 2024, suggesting that this remains a plausible scenario if the economy progresses as she expects. “Right now that feels about right to me if the economy evolves as I anticipate it will,” she stated.
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