Cleveland Fed Pres. Mester
- Main risk on inflation is that the Fed doesn't hike rates enough
- Fed needs to press forward on rate rises to core inflation
- Upside inflation risks remain
- Wage pressures are high and persistent
- October CPI show signs of moderation on inflation
- Unclear how high rates must go and how long policy states restrictive
- Return to price stability will bring pain, take time
- Expects were market volatility as Fed works to tame inflation
- Economic growth could easily turn negative for the Tory
- Inflation to moderate, hit Fed target in 2025
- Fed strongly committed to taking action to lower inflation
- Labor markets remain very tight
