The sensible move is to raise the federal funds rate target by 25 basis points, Federal Reserve Bank of Cleveland President Loretta J. Mester said in a televised interview Friday.
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"It makes sense to move up the rate another 25 basis points," Mester said on CNBC.
"I don't think we're behind the curve yet. I don't see that we have to bring up rates very strongly," she said, noting that she still believes gradual rate hikes are appropriate.
Calling the employment growth reported Friday "solid," Mester said it was "very consistent" with expectations, "certainly with my forecast."
