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Cleveland Fed chief 'comfortable' raising rates if economy keeps performing
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)