Federal Reserve Bank of Cleveland President Loretta Mester said on Thursday that she expects the Fed to cut rates three times this year, noting such action "feels about right."
Speaking at the Columbia University/Bank Policy Institute 2024 Bank Regulation Research Conference, Mester stressed that she expects employment growth to slow, which is what the central bank wants to see before it decides to ease its policy.
The policymaker added that the bank cannot rely on the pace of disinflation from 2023 to continue this year and noted it needs more confidence that inflation is on a "sustainable path" to the Fed;s 2% target.