Fed's Mester: I don't think we're at that hold rate yet
|Cleveland Federal Reserve President Loretta Mester said on Tuesday that she would like the policy rate to get to a point where it could equally be a potential increase or decrease, per Reuters.
Additional takeaways
"I don't put it in terms of a pause, I put it in terms of a hold."
"I don't think we're at that hold rate yet. However, there is four weeks to go until next meeting, need to see more data."
"Whether banking turmoil is adding to pull back in credit, we're monitoring."
"At this point given, how stubborn inflation is, can't say I'm at a level where it's equally probable that the next thing would be an increase or a decrease."
"We know part of total rate increase has not affect the economy yet."
"Seeing some slowdown in labor market conditions, still think the labor market is quite tight."
"I need to see more evidence that inflation is coming down."
"Inflation is still high, we have to stick to what we're doing."
Market reaction
The US Dollar stays under modest bearish pressure in the early American session on Thursday and the US Dollar Index was last seen losing 0.05% on a daily basis at 102.38.
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