Fed’s Loretta Mester Sees Need for Aggressive Rate Hikes at Next Two Meetings

Cleveland Federal Reserve Bank President Loretta Mester said she favors continued aggressive rate hikes at the central bank’s next two policy meetings.

“Given economic conditions, a continued increase in the rate of capital support is encouraged,” Ms. Mester said in a statement on Thursday. “Unless there are some big surprises, I would expect another 50 basis point hike in policy rates to be appropriate at each of our next two meetings.”