Fed’s Mester ‘Very Open’ to Faster Taper In Light of Inflation and Jobs Data-US News | The Epoch Times

Federal Reserve Bank of Cleveland President Loretta Mester told Bloomberg she is open to a faster timetable for dialing back the Fed’s asset purchases to make space for more interest rate hikes if needed to tame inflation, with central bank officials previously saying they wouldn’t start raising rates until the bond buys are fully phased out. Mester said in a Dec. 1 interview on Bloomberg that recent data on inflation and the jobs market suggest elevated price pressures will take longer to dissipate than Fed officials previously believed, adding that this has prompted her to be “very open to considering a faster pace of tapering.” “The momentum in the economy is clear,” Mester said. “We’ve seen very strong labor markets, we’ve seen very strong price pressures and high inflation rates.” Consumer price inflation accelerated its monthly pace in October and, on an annual basis, hit a 31-year high, while the …

Leave a Reply

Your email address will not be published.

Next Post

Kellogg Reaches Tentative Deal With Union After 2 Months of Strike-US News | The Epoch Times

Thu Dec 2 , 2021
Kellogg Co. said on Thursday it has reached an agreement with the union on a new five-year contract for its employees at a few breakfast-cereal plants in the United States, potentially bringing a nearly two-month long strike to an end. The tentative agreement, reached after multiple rounds of talks with […]

Chief Editor

Johny Watshon

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur

Quick Links

Newsletter Signup

Sign up now and never miss a thing!

You're Signed Up!

Now that you are signed up, we will send you exclusive offers periodically.