Fed/Mester: All possibilities are on the table at June meeting

Mester told CNBC that every option was on the table at the June meeting.

Stating that inflation is still very high and this is worrisome, Mester said: “Resisting inflation and strong consumer spending indicate that the Fed should raise more interest rates to keep prices under control. The inflation data released today shows that we have more work to do.” Mester has no voting rights in the FOMC this year.

In the US, PCE inflation data showed that inflation remained close to 5 percent, well above the Fed’s 2 percent target.

There are different opinions among Fed officials on whether the rate hikes should continue. Some officials announced that they were in favor of suspending the increases at the meeting on 13-14 June.