Investing.com – In the first remarks from a U.S. central bank official after the publication of the September jobs report, Cleveland Fed president Loretta Mester defined the data as “solid”.
While noting that the Federal Reserve (Fed) was not yet behind the curve, Mester insisted on Friday that it made sense to raise rates by 25 basis points in the interview on CNBC TV.
Mester is a known hawk who dissented along with Boston Fed chief Eric Rosengren and Fed governor Esther George to the September decision to leave rates on changed as all three preferred a hike of to 0.50%-0.75% from the current range of 0.25%-0.50%.
Mester pointed out on Friday that the U.S. is at full employment and incomes are rising.
The U.S. economy has been very resilient and the inflation numbers have been on rise at the headwinds fade, she said.