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- Federal Reserve Bank of Cleveland President Loretta Mester said Friday that very strong hiring data for last month didn't change her view on the state of the employment sector, while noting upcoming data will drive her views of whether the Fed needs to hike rates again.
Mester spoke to the television channel following the release of the September jobs report, which showed the U.S. added a bigger-than-expected 336,000 jobs last month and upwardly revised the prior month's job gain, with a steady 3.8% unemployment rate. Several economists noted the softening earnings data in the report, evidence that inflation pressures continued to ebb, reducing pressure on the Fed to hike rates further.
In the interview, Mester gave no firm hints on her outlook."We are basically at or near" the peak of the tightening campaign and the main question is how long the Fed should keep rates high to bring inflation back to 2% by the end of 2025, she said.
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