Economics
Fed’s Mester Sees Gradual Rate Boosts Despite Weak Jobs Data
- ‘Upward pace’ is appropriate with economy expanding, she says
- May’s U.S. payrolls report erased argument for a boost in June
Loretta Mester, president of the Federal Reserve Bank of Cleveland
Photographer: Marlene Awaad/BloombergThis article is for subscribers only.
The Federal Reserve should raise interest rates gradually despite weak jobs data, Cleveland Fed President Loretta Mester said, a day after the U.S. payrolls report erased the argument for a move in June.
U.S. economic growth is picking up, inflation is moving toward target and the country is at full employment, Mester told reporters in Stockholm on Saturday.