Federal Reserve Bank of Cleveland President Loretta Mester:
- I believe unemployment will go up a little bit
- I don't think we can count on a big surge in labor force participation
- Right now focused on inflation part of the fed's mandate
- We have to be singularly focused on inflation
- Getting inflation down is job one
- we have more work to do to get inflation on path to 2%
- I have not seen evidence that markets aren't working in the US
- Market conditions are tightening, which is expected as rates rise
- We will need to have real rates turn positive and stay there for a while to bring down inflation
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There is nothing here from Mester that departs from what we have heard from other fed officials on the Fed raising rates.
