VOT Research Desk
According to Loretta Mester, president of the Federal Reserve Bank of Cleveland, the Federal Reserve is not about to cease raising interest rates, she told the Financial Times.
Mester remarked that additional positive inflation data and indications of reduction would be necessary.
Mester said that although it’s simple to be fooled by good news, we don’t want wishful thinking to take the place of strong evidence since the consequences of stopping too soon would be prohibitive.
In the early American session, the US Dollar Index, which had fallen to a multi-month low of 105.32, entered a recovery phase and was last observed losing 0.12% on the day at 105.94.
