Latest Issue

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…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect