Fed’s Mester: Dec rate hike reflects expectation economy will improve

FXStreet (Bali) – Federal Reserve’s Cleveland bank president Mester (Federal Open Market Committee FOMC voter) is crossing the wires, noting that December rate hike reflects expectation that the economy will improve, adding that she ‘fully supported’ US rate hike as prudent first step.

Headlines – via Reuters

Hike reflects expectation economy will continue improving supported by accommodative fed policy

Gradual rate hikes allow fed to recalibrate based on longer-run US potential

Says expects ‘above trend’ Q4 and 2016 GDP growth of 2.5 to 2.75%

Says expects inflation rebound as commodity, dollar effects wane

Expects wage growth, further labor market improvement

Federal Reserve’s Cleveland bank president Mester (Federal Open Market Committee FOMC voter) is crossing the wires, noting that December rate hike reflects expectation that the economy will improve, adding that she ‘fully supported’ US rate hike as prudent first step.

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