A top official at the Federal Reserve said there was no “compelling” reason to wait before implementing another interest rate rise should economic data confirm that more must be done to bring US inflation under control.

The Fed is struggling to engineer low inflation and a 'soft landing' for the U.S. economy, writes Peter Morici.

"I don't really see a compelling reason to pause," Mester told FT in an interview. Mester's comments come after some Fed policymakers hinted they may support a pause in raising rates in June to assess the impact of the U.

Federal Reserve Bank of Cleveland President Loretta Mester sees no "compelling" reason to wait to implement another interest rate hike, Financial Times reported on Wednesday.

Bank of Cleveland president, Loretta Mester said in an interview with the Financial Times that she sees no "compelling" reason to pause rate hikes.