Federal Reserve Bank of Cleveland President Loretta Mester and Boston Fed’s Susan Collins reinforced a higher-for-longer message on interest rates, emphasizing a need for patience as the central bank waits for more evidence inflation is moving lower. Speaking on a panel moderated by Atlanta Fed’s Raphael Bostic, Mester said Tuesday that she wants to see “a few more months of inflation data that looks like it’s coming down” before cutting interest rates, while Collins indicated she wants to see more evidence price pressures are moving toward the central bank’s 2% target.
You can find out more on this story here: https://www.bloomberg.com/news/articles/2024-05-22/fed-s-collins-mester-emphasize-need-for-more-data-to-cut-rates?srnd=homepage-americas
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