Fed's Mester says front loading FOMC rate hikes is appealing

Mester (Headlines via Reuters):

• I strongly supported the Fed's actions last week
• raising the fed funds rate to about 2.5% will be appropriate, with further rate hikes next year
• front-loading rate hikes is appealing; can slow pace or speed up in second half of 2022 depending on inflation data
• inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is the u.s. economy's no. 1 challenge
• sees rising risks too-high inflation will become imbedded in the economy
• upside risks to inflation from Ukraine conflict are greater than downside risks to u.s. growth
• Fed needs to take action to reduce excess demand
• uncertainty about medium-run outlook has increased
• base case is that economy will grow at above-trend pace, sustain healthy job gains
• current wage increases likely inconsistent with price stability
• inflation will move down but won't return to 2% this year

more to come