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President Mester describes case for March rate rise if outlook remains the same

The Federal Open Market Committee may need to increase interest rates as soon as March in order to contain inflation and keep inflation expectations well-anchored, President Mester told Bloomberg TV in a January 11 interview.

Assuming an economic outlook similar to what it currently is, "I would support moving the funds rate up at that meeting and starting to move back from some of the extraordinary accommodation we needed earlier in the pandemic," Mester said.

View the interview.

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