Cutting interest rates too soon would risk some of the progress seen on reducing inflation and might cause interest-rate policy to reverse course, Cleveland Federal Reserve President Loretta Mester said Tuesday.
“It would be a mistake to move rates down too soon or too quickly without sufficient evidence that inflation was on a sustainable and timely path back to 2%,” Mester said in a speech to the Ohio Bankers League meeting in Columbus, Ohio.
“Doing…
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