US Fed's Mester says further rate hikes needed this year and next

Author: Mike Paterson | Category: Central Banks

US Cleveland Fed's Loretta Mester in scheduled speech at Dayton, Ohio 13 Feb

  • inflation to gradually rise to 2% over next 1-2 years
  • US economic fundamentals are very strong
  • sees economy working through latest turmoil
  • latest market moves haven't curbed risk-taking, spending
  • trading has been relatively orderly
  • tax cuts adding to growth and could be upside risk
In line vs comments in January Mester when she had this to say

USD mixed as NA desks enter the fray but getting an algo-led boost from the headlines here. USDJPY finding a few bids and current 107.77 and GBPUSD falling back to 1.3880 after the 1.3925 highs. My sell-rally play working nicely again.

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