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Fed’s Mester: Rate hikes have begun to quell US inflation (access required)

Growing evidence that high inflation is finally easing shows that the Federal Reserve's sharp interest rate hikes are working as intended, says Loretta Mester, a key Fed policymaker. But further rate hikes are still needed, she says, to decisively crush the worst inflation bout in four decades. “We’re beginning to see the kind of actions that we need ...

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