Cleveland Federal Reserve President Loretta Mester said on Monday she would be comfortable raising interest rates at this point if the economy maintained its current pace of performance. In a speech in Singapore, Mester, seen as one of the more hawkish Fed officials, said the economy was on a "sound footing". She also cautioned against asking the central bank to solve problems beyond its control, such as low productivity growth. "We did have a temporary oil price shock which held down inflation, we had the dollar appreciation which held down inflation. Those have passed through and the trend in inflation is, ... (full story)