The U.S. Federal Reserve should not delay in raising interest rates in order to keep up with the economy, said Cleveland Fed President Loretta Mester, suggesting she would again back a modest policy tightening next month."We have to be a little pre-emptive in making sure that we're moving the interest rate up so that we can keep the expansion sustained," said Mester, one of three Fed policymakers to dissent against last month's decision to stand pat on rates.Speaking on Bloomberg Radio, she added that the case would "remain compelling" to back a rate hike at the next policy meeting, on Nov. 1-2, were the economic data to come in largely as she expects.
(Reporting by Jonathan Spicer; editing by Diane Craft)
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Published Date: Oct 04, 2016 03:00 AM | Updated Date: Oct 04, 2016 03:00 AM