Cleveland Fed President Says Central Bank Not Behind The Curve

Policy at the Federal Reserve is keeping pace with developments in the economy and the Fed is not falling behind the curve in planning its first interest rate increase, Cleveland Fed president Loretta Mester said on Friday.

“I am not thinking we are behind the curve,” Mester said in an interview on CNBC, noting that she voted in favor of the most recent Fed policy statement. “We are going to react to developments in the economy.”

Mester said she forecast three percent growth “for the next couple of years,” and that it would likely be appropriate to raise interest rates sometime next year.

via Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza