Posted 11/16/2023, 7:44:00 PM
Cleveland Fed's Mester: Too Soon for Rate Cut Talk, Wants Clear Drop in Inflation Before Policy Shift
- Cleveland Fed's Mester says focusing on rate cuts now is premature, more data needed to show inflation falling
- Markets pricing in rate cuts in 2023 is "not part of the conversation now," Fed needs to stay restrictive
- Mester concerned if inflation stalls at 3%, wants to see clear downward path
- Doesn't support using economic "triggers" to automatically adjust policy as Fed did before
- Overall pleased with October CPI data but not an all-clear on inflation yet