Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Fed's Mester sees rates above 4%, says Powell speech 'strong' - BBG TV

Published 08/26/2022, 12:08 PM
Updated 08/26/2022, 12:10 PM
© Reuters. FILE PHOTO: Cleveland Federal Reserve Bank President Loretta Mester poses during an interview on the sidelines of the American Economic Association’s annual meeting in San Diego, California, U.S., January 3, 2020. REUTERS/ Ann Saphir/File Photo

(Reuters) - Cleveland Federal Reserve President Loretta Mester on Friday said she thinks the U.S. central bank needs to lift interest rates above 4% and said she believed Chair Jerome Powell delivered a "strong message" about the Fed's determination to quash inflation.

"I think we're going to have to move them up ... above 4% and probably need to hold them there next year," Mester said in an interview on Bloomberg TV from Jackson, Wyoming, following Powell's speech there.

On Powell's speech, she said: "I think that was a very strong message, and I am certainly aligned with that."

"I thought the message was strong and right."

Latest comments

4%?   It will take 8%, maybe more to put the inflation genie back in the bottle.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.