Tuesday, October 26

Fed’s Mester says she thinks first rate increase could be at the end of 2022

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NEW YORK — The Federal Reserve’s conditions for raising interest rates could be met by the end of 2022, Cleveland Fed Bank President Loretta Mester said on Friday.

“I think we’ll see progress in the labor market and progress on inflation coming back down,” Mester said during a virtual panel organized by the Shadow Open Market Committee. Mester said she expects inflation will start to come back down next year to above 2%, once supply side and pent up demand factors ease. (Reporting by Jonnelle Marte)


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