Cleveland Fed Pres. Loretta Mester
- Medium and long term inflation expectations are still in a range consistent with Fed's 2% goal but I am very attentive to that
- Policy should be guided by incoming data as it informs the outlook
- Better for markets to focus on the path of rates rather than one particular meeting
- Not convinced inflation has peaked yet
- Growth rate of wages still higher than what is consistent with 2% inflation
In regards to the path, the Fed funds market top is at 3.95% at the moment.
