Fed’s Mester: One more rate hike expected in 2017

Cleveland Fed President Loretta Mester is giving her remarks at a Fed-sponsored event:

Key quotes (via Reuters):

• No immediate need to tighten policy
• Expect inflation rebound despite couple of weak readings
• Would need to see more weak inflation, sharp drop in demand to delay rate-hike forecast
• Gradual rate-hike path allows for aberrations in inflation