{"id":1941466,"date":"2023-05-31T17:07:57","date_gmt":"2023-05-31T21:07:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cleveland-fed-president-says-there-is-no-compelling-reason-to-pause-rate-hikes\/"},"modified":"2023-05-31T17:09:59","modified_gmt":"2023-05-31T21:09:59","slug":"cleveland-fed-president-says-there-is-no-compelling-reason-to-pause-rate-hikes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cleveland-fed-president-says-there-is-no-compelling-reason-to-pause-rate-hikes\/","title":{"rendered":"Cleveland Fed President: No Need to Stop Rate Hikes."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcleveland-fed-president-says-there-is-no-compelling-reason-to-pause-rate-hikes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1941466&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Fed Official Urges for Interest-Rate Hike to Control Inflation<\/h2>\n<div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0531\/30385b92-0239-47aa-99e6-e51362c46bfa\/audio.mp3?length=3406797&#038;duration=284\"><\/div>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\">Loretta Mester, president of the Federal Reserve Bank of Cleveland, believes that the US needs to take action to control inflation and has urged for another <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/two-top-fed-officials-back-raising-interest-rates-in-march\/\" title=\"Two Top Fed Officials Back Raising Interest Rates in March\">interest-rate hike<\/a>. In a recent interview with the Financial Times, Mester stated that there was no \u201ccompelling\u201d reason to wait for another rate hike, and that more must be done to bring inflation under control.<\/p>\n<p>Some Fed policymakers have suggested that they would skip another rate hike in June in order to assess the impact of the central bank\u2019s policy on inflation, before raising rates again at a later date. Others have indicated that the central bank does not need to tighten the money supply any further. However, Mester believes that the risks of doing too little outweigh the risks of doing too much.<\/p>\n<h3>Debt-Limit Agreement Relieves Uncertainty on US Economy<\/h3>\n<p>Mester also commented on the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sf-city-attorney-calls-out-teachers-unions-vaccine-demands-unlawful\/\" title=\"SF City Attorney Calls Out Teachers\u2019 Union\u2019s Vaccine Demands: \u2018Unlawful\u2019\">recent agreement<\/a> between the Biden administration and Republican leaders in the House on the US <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mcconnell-does-not-expect-gop-will-help-democrats-raise-the-debt-ceiling\/\" title=\"McConnell Does Not Expect GOP Will Help Democrats Raise The Debt Ceiling\">borrowing limit<\/a>, stating that it \u201crelieves a big piece of uncertainty about the economy.\u201d The agreement will be up for debate in the House, with the vote expected to take place on May 31, before being sent to the Senate for approval. However, the bill needs to be passed before the deadline of June 5, the day when the Treasury Department has warned that the federal government could run out of money to pay off its debts\u2014for the first time in its history.<\/p>\n<h3>Mester Remains Disappointed Over Inflation Rate Results<\/h3>\n<p>Mester, who is a policy hawk on inflation, told the Financial Times that she was disappointed at the progress in containing inflation. She believes that the Fed should only pause rate hikes when the risks of doing too little were evenly balanced with doing too much. She is open to being swayed by the next employment report on June 2 and the latest inflation results, which are expected to be released before the next Fed policy meeting on June 13\u201314.<\/p>\n<h3>Debate Over a Rate Hike in June Divides Policymakers<\/h3>\n<p>The debate over whether to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morgan-stanley-threat-of-high-inflation-is-real\/\" title=\"Morgan Stanley: Threat of high inflation is real\">raise interest rates<\/a> in June continues to divide policymakers. While some believe that another rate hike is necessary to control inflation, others argue that the central bank does not need to tighten the money supply any further. Mester believes that another small step is necessary to counter the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cleveland-fed-president-says-there-is-no-compelling-reason-to-pause-rate-hikes\/\" title=\"Cleveland Fed President: No Need to Stop Rate Hikes.\">stubborn inflationary pressure<\/a>.<\/p>\n<ul>\n<li>Mester urges for another interest-rate hike to control inflation<\/li>\n<li>Debt-limit agreement relieves uncertainty on US economy<\/li>\n<li>Mester remains disappointed over inflation rate results<\/li>\n<li>Debate over a rate hike in June divides policymakers<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Loretta Mester, President of the Federal Reserve Bank of Cleveland, has stated that there is no need to delay another interest-rate hike. Mester believes that more action is required to control US inflation, rather than waiting for further economic results. This contradicts the views of some Fed policymakers.<\/p>\n","protected":false},"author":327,"featured_media":1941467,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[10034,7498,6367,3669,6366],"class_list":["post-1941466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-cleveland","tag-fed","tag-hikes","tag-president","tag-rate"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1941466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/327"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1941466"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1941466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1941467"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1941466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1941466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1941466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}