Fed's Mester: Fed is at or near peak of rate hike cycle
Federal Reserve Bank of Cleveland President Loretta Mester said on Friday that the US central bank is "at or near the peak of the rate hike cycle," per Reuters.
Key quotes
"Outlook aligns with Fed forecasts eyeing one more increase."
"Fed rate decisions will be driven by incoming economic data."
"If sustained, higher bond yields will help moderate economic activity."
"Fed needs to be nimble with monetary policy right now."
"Inflation cooling but still too high, risks tilted to upside."
"Labor markets showing moderation, resilience."
"Data shows signs of moderating wage gains."
"Fed must not be complacent on getting inflation back to 2%."
"Possible recent developments could slow move down in inflation."
Market reaction
These comments failed to trigger a noticeable reaction in the US Dollar Index, which was last seen moving sideways near 106.20.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
