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Long dated Treasury yields post biggest quarterly rise since March as inflation worries intensify and global central banks pivot


Fed’s Mester repeats first rate hike could come at the end of 2022

The Federal Reserve’s conditions for raising interest rates could be met by the end of 2022, Cleveland Fed Bank President Loretta Mester said on Friday, adding that she expects inflation to come back down to the central bank’s target next year. “I think we’ll see progress in the labor market and progress on inflation coming back down,” Mester said during a virtual panel organized by the Shadow Open Market Committee, repeating an outlook she shared last week. Mester said she expects inflation will start to come back down once supply side and pent-up demand factors ease, forecasting inflation will be above 2% in 2022 and 2023.

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