Although a rate hike in December is not guaranteed, "things are on track," according to projections, Federal Reserve Bank of Cleveland President Loretta Mester said Thursday in attempting to explain the statement from the Federal Open Market Committee following its last meeting.
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The panel is trying to be transparent and "we look at incoming information" before making a decision, Mester said in an interview on CNBC.
Labor market goals were "basically met" and inflation should increase in the medium-term.
When asked, Mester said she doesn't think the Fed is behind the curve.
