Mester: Fed will need to go above 5% and stay there for awhile

• Fed needs to keep at rate hikes until inflation trend brakes lower
• Says here view on the economy and inflation hasn't been changed by the latest data
• Data shows inflation not yet on trend to get back sustainably to 2% target
• New 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 data affirms case for rate hikes
• Asked about 25 bps vs 50 bps at March meeting, declines to say
• Says 25 vs 50 bps discussion misses bigger picture
• Says there's more data and info to take on before debating rate rise sizes at March 21-22 meeting

Again, she's passing up an opportunity to be more hawkish than previously. She has previously said that rates need to get above 5% and stay there, so that's not new.