Loretta Mester, Interview: Financial Times (excerpts)
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“I don’t really see a compelling reason to pause — meaning wait until you get more evidence to decide what to do … I would see more of a compelling case for bringing [rates] up . . . and then holding for a while until you get less uncertain about where the economy is going.”
“I just think that we may have to go further … to take another small step to counter some of that really embedded, stubborn inflationary pressure.”
“We’re getting to the real hard part here of how we assess trade offs … different policymakers will have different views about how they are assessing things.”