Fed‘s Mester says it’s ‘imperative’ to get inflation down

div classBodysc17zpet90 cdBBJodivpReuters – Cleveland Federal Reserve Bank President Loretta Mester on Thursday pushed back against the idea that by raising interest rates the Fed is prioritizing its goal of achieving 2 inflation over its aim to maximize employment.p

p“It‘s not really a tradeoff right now, it’s really an imperative that we take the action, that we are committed at the FOMC to do that, to get inflation on a downward trajectory,” Mester said during a panel discussion at the University of Akron in Ohio. “If you really want to sustain a healthy economy … a healthy labor market, youve got to get back to price stability. …Inflation harms the workforce, it harms employment.” pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe FOMC, or Federal Open Market Committee, is the Feds policysetting body.p

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pp Reporting by Ann Saphir Editing by Leslie Adlerp

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