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Global economy supplement: wage growth will improve

An interview with the newest regional Federal Reserve President Loretta Mester

By Jay Elwes  

“I think that again we, like the United Kingdom, have seen very slow wage growth, so far,” says Loretta Mester, President and Chief Executive Officer of the Federal Reserve Bank of Cleveland. “But again as the economy picks up some momentum and unemployment continues to fall and firms continue to hire, I expect wage growth to pick up.” Loretta Mester took charge of the Cleveland Fed in June. She is also a voting member of the Federal Open Market Committee—the body chaired by Janet Yellen, the Chairman of…

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