Loretta Mester, Interview: Bloomberg TV

“I mean, I want to wait until the data comes in. I mean, as the markets assume it’s going to be 50 or to 75, that’s where my head is. It’s going to be one of those two, but I do think that we’re going to have to move interest rates up from current levels. So, I want to see that data, I’ll assess it, look at the decompositions of the inflation data more carefully, and also the inflation expectations data I think is very important as well.”

“So, we’re going to have to move rates up. I mean, I think we’re going to have to move them up and this is based on just my current rate of the data above 4% and probably need to hold them there next year. So, in other words, move them up to slightly above 4% sometime early next year and then just keep them there in order to get this inflation under control and back down to 2%.”