outgoing Cleveland Federal Reserve Bank president Loretta Mester said in an interview with CNBC that she is pleased to see lower inflation data but added that she would want to see a few more months of better inflation data.
Mester also stated that the Fed will think about lowering rates when confident inflation is coming down. The official noted that, in her view, it is inappropriate to keep interest rates at current levels until 2% inflation is reached. "It's important not to wait too long to cut rates," Mester stressed.