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President Mester to CNBC Europe: gradual rate rises aim to sustain economic expansion

Cleveland Fed President Loretta J. Mester said she favors slowly increasing interest rates while paying attention to incoming economic data because this approach balances the risks of inflation and recession while seeking to preserve the current economic expansion. Mester spoke in a November 9 interview on CNBC's Squawk Box Europe in London.

Read a story about the interview here and view video clips of it here (video 1, video 2, and video 3).

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