Fed's Mester says she favors more than three interest-rate hikes this year

Cleveland Fed President Loretta Mester said Friday she would like to see the central bank raise interest rates more than the three quarter-percentage-point moves favored by the majority of her colleagues. In an interview with Fox Business, Mester said she would like to see a steeper path of rate hikes because she expects "a little bit more inflation" than many of her colleagues. Mester said that three hikes this year was a good benchmark forecast at the moment. The Cleveland Fed president said she expects inflation to reach the central bank's goal of 2% within the next two years, sooner than......(read more)

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