Fed's Mester says rates likely will need to rise a bit

NEWARK, Del. (Reuters) - The Federal Reserve may need to raise interest rates further but it has time to assess how the economy is doing before tightening borrowing conditions, Cleveland Federal Reserve President Loretta Mester said on Tuesday. "Monetary policy does not appear to be far behind or far ahead of the curve," Mester said in prepared remarks at an event at the University of Delaware. "This environment gives us the opportunity to continue to gather information on the economy."...(read more)

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