Transcript: WSJ interview with Cleveland Fed President Loretta Mester

Cleveland Fed Chairman Loretta Mester discussed inflation, the economy and Fed interest rate hikes in an interview with The Wall Street Journal on Friday. Here is a transcript, slightly edited for clarity.

NICK TIMIRAOS: When you talk about data dependency, what does that mean in the context of determining the ultimate destination for how much you think rates need to increase? And then also the tactical considerations that come into play in getting from here – which currently would be 2.4% on the federal funds rate – to where you currently think the ultimate destination is?


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