Cleveland Fed's New Chief Calls For Forward Guidance Change - Presented by: The Aol. On Network

A top official at the central bank said on Thursday that the Federal Reserve needs to change its forward guidance on interest rates, in order to better reflect the speed of the Fed's progress toward its economic goals. In her first speech since taking the helm at the Cleveland Fed in June, President Loretta Mester said inflation signs are encouraging, and that the Fed should expect wages to rise with prices, rather than lead price gains.



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