Fed-chefen i Cleveland Loretta Mester: den långsiktiga styrräntan 3 procent

Om ekonomin utvecklas som hon förväntar sig kan räntesänkningar inledas senare i år. 

Hon har skruvat upp sin prognos över den långsiktiga styrräntan från 2,5 procent till 3 procent.

DI 2 april 2024


Mester told reporters she had revised higher her projection for where the Fed’s benchmark short-term rate would settle out over the long run. 

For several years, Mester said she had projected that the federal-funds rate would run at 2.5% during periods when inflation was at the Fed’s target and the economy required neither stimulus nor restraint.

But Mester said she revised that projection to 3% in March after concluding that the interest rate required to balance savings and investment would be higher in the years ahead, in part because of a possible increase in productivity.

Wall Street Journal 2 April 2024

Loretta J. Mester 04.02.2024   

I have also raised my estimate of the longer-run federal funds rate to 3 percent compared with 2.5 percent, which had been my estimate for some time. 

I raised my estimate to reflect the continued resilience in the economy despite high nominal interest rates and higher model-based estimates of the equilibrium interest rate, r-star.


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