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Fed’s Mester says she doesn’t see compelling case to start with 50 bps rate hike -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Loretta Mester, President of Cleveland Federal Reserve Bank, speaks in London (Britain), July 2, 2019. REUTERS/Marc Jones

NEW YORK, (Reuters) – It’s time for Federal Reserve to remove accommodation and raise interest rates. However, it doesn’t have to be necessary that the central bank launches its rate rise cycle with a half-percent increase. Loretta Mester, Cleveland Federal Reserve President, stated Wednesday.

Mester stated that she doesn’t enjoy taking any items off the table during a virtual meeting. But, you know what, there is no compelling reason to increase the rate by 50 basis points. The pace at which rate increases are made will also depend on the economic and inflation situation.

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