Fed’s Mester: I would advocate for 75 bps rate hike in July
|“Right now I would advocate for a 75 bps rate hike," Cleveland Federal Reserve (Fed) Bank President Loretta Mester said on Wednesday while noting that the “debate in July is between 50 bps and 75 bps rate hike."
Additional quotes
We want to see US rates above 4% next year.
Rate hikes are very necessary to get inflation down.
Market reaction
The US dollar index dropped from near-daily highs of 104.70 on these comments. At the time of writing, the spot is trading at 104.54, almost unchanged on the day.
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