If the situation does not change, support for a 75bp rate hike in July = US Federal Reserve Bank of Cleveland Governor | Reuters

On June 29, Mester, Cleveland District Fed President (pictured), said he would support a 75 basis point (bp) rate hike at the next Federal Open Market Committee (FOMC) in July if economic conditions remain unchanged. Showed posture. Taken in London, July 2019 (2022 Archyde.com / Marc Jones)

[Archyde.com]–Mester, Cleveland District Fed President, said yesterday that he would support a 75 basis point (bp) rate hike at the next Federal Open Market Committee (FOMC) in July if economic conditions remain unchanged. Showed posture. Said in an interview with CNBC.

Mr. Mester pointed out that the July meeting will discuss whether the rate hike will be 50bp or 75bp.

“If the current situation remains the same at the time of the meeting, I would support 75bp (rate hike) because the inflationary conditions needed to bring the rate hike back to 50bp are not in place,” he said.