Federal Reserve Bank of Cleveland President Loretta Mester said on Thursday that they are not yet at a point where they could start thinking about stopping interest rate hikes, as reported by Reuters.

Additional takeaways

“All the indicators we have from businesses is that demand for labor exceeds supply of labor.”

“We’re basically back to trend on labor force participation given demographics.”

“Not expecting a big bump up in labor force participation.”

“We’re still not even in restrictive territory on the funds rate.”

“The dollar is among the conditions that have tightened, it’s is helpful on inflation.”

“Money supply hasn’t been a reliable indicator for a long time.”

“I’d like to see long-term inflation expectations down from where they are now.”

“Would also want to see continued progress on realized inflation.”

Market reaction

The greenback preserves its strength following these comments. The US Dollar Index was last seen rising 0.5% on the day at 113.28.

This article was originally published by Fxstreet.com.Read the original article here.


Please enter your comment!
Please enter your name here