The rocky path of inflation back to the Federal Reserve’s 2% target rate reflected in the latest Consumer Price Index figures means that it is likely too soon for the central bank to cut its policy rate in March, Cleveland Fed President Loretta Mester said on Thursday. “I think March is probably too early in my estimation for a rate decline because I think we need to see some more evidence,” Mester said in an interview with Bloomberg TV. “I think the December CPI report just shows there is more work to do and that work is going to take restrictive monetary policy.” The central bank in December forecast cuts to its benchmark…
