Fed’s Mester wants more progress on inflation before ending interest rate hikes

Source: CNBC — 

Cleveland Federal Reserve President Loretta Mester said Monday inflation will need to show more signs of progress before she’s ready to stop advocating for interest rate increases.

While acknowledging that recent data has been encouraging, the central bank official told CNBC that the progress is only a start.

“We’re going to have more work to do, because we need to see inflation really on a sustainable downward path back to 2%,” she said in a live “Closing Bell” interview with Sara Eisen. “We’ve had some good news on the inflation front, but we need to see more good news and sustained good news to make sure that we are returning to price stability as soon as we can.”