Fed's Mester says criteria for interest rate hike have been met

WASHINGTON (MarketWatch) - The economy has met the two tests laid out by the Federal Reserve to justify an interest rate hike, said Loretta Mester, the president of the Cleveland Fed, on Thursday. In an interview on CNBC, Mester said the goal of full employment has basically been met and also said she is "reasonably confident" that inflation would move higher towards the 2% annual target. Mester said the minutes of the October meeting do not box the Fed into hiking at the meeting next month, and simply reflected the current thinking that "things were on track." The committee will look at all......(read more)

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