Cleveland Fed president ‘fully supported’ rate hike
Stresses greater importance of policy path than date of lift-off for macroeconomic performance
Federal Reserve Bank of Cleveland president Loretta Mester "fully supported" the decision to hike interest rates in December, she said on January 3, at a conference in San Francisco.
Nonetheless, she stressed the expected future path of the Federal Reserve's policy was "more important for macroeconomic performance" than the initial rate increase.
Many economists believe the potential growth of the US economy and, consequently, the long-run equilibrium real interest rate, have fallen.
However
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