NEW YORK, Oct 1 (Reuters) – The Federal Reserve’s conditions to raise interest rates could be met by the end of 2022, Cleveland Fed Chair Loretta Mester said on Friday.
“I think we will see progress in the labor market and progress in inflation going down,” Mester said in a virtual panel organized by the Shadow Open Market Committee.
Mester added that he expects inflation to start falling to over 2% next year, once supply-side factors moderate and suppressed demand.
(Report by Jonnelle Marte, Edited in Spanish by Manuel Farías)
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