Comment's from the Federal Reserve's Cleveland bank president Mester
- Says 'fully supported' US rate hike as prudent first step
- Hike reflects expectation economy will continue improving supported by accommodative fed policy
- Gradual rate hikes allow fed to recalibrate based on longer-run US potential
- Says expects 'above trend' Q4 and 2016 GDP growth of 2.5 to 2.75%
- Says expects inflation rebound as commodity, dollar effects wane
- Expects wage growth, further labor market improvement
Headlines via Reuters
-
Lorretta Mester is president of the Cleveland Federal Reserve Bank. Speaking as part of a panel discussion on the US and global economic outlook at the American Economic Association meeting in San Francisco (the same venue as Fischer spoke at earlier today)
Mester is an Federal Open Market Committee (FOMC) voter this year (2016 in case you're a bit slow on the date :-D )