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Interest rates need to rise #39;somewhat above#39; 4%: Fed#39;s Loretta Mester

“My current view is that it will be necessary to move the fed funds rate up to somewhat above 4 percent by early next year and hold it there; I do not anticipate the Fed cutting the fed funds rate target next year,” Mester said in prepared remarks to a local chamber of commerce in Dayton, Ohio.

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