The U.S. economy slowed in November and inflation also tapered off, a Federal Reserve survey showed, suggesting the central bank could be finished raising.
By Michael S. Derby NEW YORK (Reuters) - Cleveland Federal Reserve President Loretta Mester said on Wednesday that an easing of inflation pressures has .
Cleveland Federal Reserve President Loretta Mester said on Wednesday that an easing of inflation pressures has given the U.S. central bank time to decide the next move in its monetary policy path. "While it is still above our 2 percent goal, there has been discernible progress on inflation even while the overall economy has remained relatively strong," Mester said in the text of a speech prepared for delivery before a conference on financial issues in Chicago. It will likely take time to hit the Fed's inflation target, Mester said, but in the meantime, "monetary policy is in a good place for policymakers to assess incoming information on the economy and financial conditions."
Current policy rate lets Fed be 'nimble' with incoming data, Mester says kitco.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitco.com Daily Mail and Mail on Sunday newspapers.