(Reuters) - The Federal Reserve has further to go on raising interest rates as inflation has not even peaked yet, Cleveland Fed President Loretta Mester said on Tuesday.
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We have more work to do because we have not seen that turn in inflation, Mester said in an interview with the Washington Post. It's got to be a sustained several months of evidence that inflation has first peaked - we haven't even seen that yet - and that it's moving down.
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Other Fed policymakers on Tuesday also signaled they and their colleagues remained resolute and completely united on getting U.S. interest rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation since the 1980s.
The U.S. central bank last week raised its benchmark overnight interest rate by three-quarters of a percentage point for a second straight meeting, with Fed Chair Jerome Powell indicating another unusually large rate hike may be appropriate again in September if inflation is not easing to a sufficient degree.
(Reporting by Lindsay Dunsmuir; Editing by Jonathan Oatis and Paul Simao)