Fed's Mester: Was very comfortable with Fed's recent 25 basis point rate rise
By Michael S. Derby
April 4 (Reuters) - Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday that the U.S. central bank was right to boost rates by 25 basis points at its policy meeting late last month.
"I was very comfortable with moving ahead" with the rate rise given that authorities had taken steps to manage risks coming from banking sector troubles. At its last meeting the rate-setting Federal Open Market Committee raised its target to between 4.75% and 5%. (Reporting by Michael S. Derby; Editing by Christian Schmollinger)
