December 23, 2024

Mester says Fed needs to see more low inflation readings before cutting interest rates

 Mester says Fed needs to see more low inflation readings before cutting interest rates

Mester says Fed needs to see more low inflation readings before cutting interest rates

The president of the Cleveland Federal Reserve said the low inflation readings in May were great news, but the central bank needs to “see that continue a bit longer” before it can cut interest rates.