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Federal Reserve Bank of Cleveland President Loretta Mester said on Friday that hiking interest rate by 25 basis points wouldn't be a problem for the U.S. economy.
"I think the economy can support a 25-basis-point increase in interest rates. However, I also understand the argument that getting a little more confirming data before taking action is reasonable as well," she said.
Mester pointed out that she expects the Fed to start raising its interest rate this year. She does not know "how many rate increases will happen in 2015", she added.
The Federal Reserve Bank of Cleveland president also said that interest rate hike is possible in every monetary policy meeting.
Mester is not a voting member of the Federal Open Market Committee this year.
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