FILE PHOTO: Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015.
REUTERS/Lucas Jackson/File PhotoNEW YORK (Reuters) - Federal Reserve Bank of Cleveland President Loretta Mester said Monday that the U.S. central bank most likely isn’t done raising interest rates amid ongoing inflation pressures.
The Fed has raised rates aggressively over the last year and a half to help cool inflation.
Ebbing price pressures allowed officials to keep the federal funds target rate range at between 5.25% and 5.5% in September.
Mester said the economy has proved to be stronger than expected at the start of the summer.
Persons:
Loretta Mester, Lucas Jackson, ” Mester, Mester’s, Michael Barr, Michelle Bowman, “, ”, Mester
Organizations:
Cleveland Fed, REUTERS, Federal Reserve Bank, Cleveland
Locations:
U.S, New York, Cleveland