Fed’s Mester says a rate increase may be needed later this year

NEWARK, Del. (Reuters) – The Fed may need to raise interest rates this year but could still end a process of trimming its massive bond portfolio before the end of 2019, Cleveland Federal Reserve President Loretta Mester said on Tuesday.

Mester’s comments, made to reporters following her appearance at an event in Delaware, came after she appeared earlier in the day to support slowing down the process of winding down the Fed’s balance sheet, rather than stopping it altogether.

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