Tuesday, December 06, 2022
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Cleveland Fed´s CEO wants more progress on inflation

Cleveland Fed´s CEO wants more progress on inflation

Washington, Nov 21 (Prensa Latina) U.S. Federal Reserve (Fed) could reduce its rate hike coming December, Cleveland Fed´s CEO and President in Loretta Mester stressed.

Ms. Mester said Monday inflation will really need to show more signs of progress before she´s ready to stop advocating for interest rate rises.

¨I think we can go below 75 basis points at coming meeting. I think that is too appropriate,” she said.

She also emphasized that it will be the nation’s economic move that will dictate the pace of interest rate hikes by the U.S. central bank in the future.

Industry analysts noted that the Fed raised rates by 75 basis points for the fourth consecutive time, the largest monetary tightening in 40 years.

Experts warned that for some weeks now, many financial authorities have indicated they expect to move to smaller increases in borrowing costs.

They also noted that Fed´s overnight lending rate is currently in a target range of 3.75% to 4.0%. Meanwhile, investor expectations indicated that Fed will raise rates by 50 basis points at its next policy meeting on December 13-14.

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