Mester Says Fed Should Raise Rates in 2018 at Pace Similar to 2017

Federal Reserve Bank of Cleveland President Loretta Mester said Tuesday the U.S. central bank should press forward with interest-rate increases this year, while adding the recent wave of volatility in financial markets hasn’t derailed a solid economic outlook.

“If economic conditions evolve as expected, we’ll need to make some further increases in interest rates this year and next year, at a pace similar to last year’s,” Ms. Mester said in a speech in Dayton, Ohio. “This gradual approach is the best strategy for sustaining...

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