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Economy

US 'can handle' rate hike this year: Cleveland Fed chief

Concerns about "risk management" kept the Fed from raising rates in September, says Loretta Mester, head of the Federal Reserve Bank of Cleveland.

NEW YORK -- The world is still guessing about when the U.S. Federal Reserve will raise its key policy rate. Loretta Mester, president and CEO of the Federal Reserve Bank of Cleveland and a member of the Federal Open Market Committee, told The Nikkei that "the decision not to raise rates in September was really a decision about risk management."

     According to Mester, however, the U.S. economy is at full employment and would be able to accommodate a rate hike sometime this year.

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