Cleveland Fed President Loretta Mester, earlier comments are here:
Fed's Mester says further rate hikes will be needed, and restrictive policy for some time
More now:
- This is a time for us to be decisive
- Fed policy rate may be right below restrictive level
- Not at neutral yet and need to get above that
- Can't say if the fed's median projected path is appropriate
- Rates are not coming down next year
- At some point it will be a case of balancing risks, this is not that moment
- We have to have policy rate continue to move up, that's very clear
- We have not seen rates affect inflation yet, need to see that
- We are on the cusp of seeing that but haven't got there yet
