In her speech at the Ohio Bankers League Economic Summit, Federal Reserve Bank of Cleveland President Loretta Mester stated that the Federal Reserve could lower interest rates at some point later this year while warning that it would be a “mistake” to cut too soon. If the economy continues to evolve as expected and with sufficient evidence that inflation is on a sustainable and timely trajectory back to the Fed’s target of 2%, policymakers will gain confidence to begin cutting rates. The dollar index (DXY) dipped under 104.50 at the start of the US session before continuing to slide lower as traders booked profits on ... (full story)