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Fed's Mester says U.S. economy on course for rate hike by June
The Federal Reserve should likely raise interest rates in the first half of this year to account for an economic recovery that continues to build momentum, Cleveland Federal Reserve President Loretta Mester said on Wednesday. Mester said she regards the U.S. recovery as deeply rooted, with labor markets steadily improving, households and businesses freer from the heavy debt loads that constrained them, and low oil prices providing a "tailwind" to boost consumer spending. That should let the Fed move forward with an initial "lift-off" of interest rates between now and June, Mester said, reaffirming an outlook she has ... (full story)
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