Fed’s Mester Says She Doesn’t See Compelling Case to Start With 50 Bps Rate Hike

Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York on Nov. 18, 2015. (Lucas Jackson/Reuters) NEW YORK—It is time for the Federal Reserve to start removing accommodation and raising interest rates, but it is not necessary for the central bank to launch its rate hike cycle with a half percentage point increase, Cleveland Federal Reserve President Lore...