The latest disappointing U.S. jobs number has not changed the overall economic picture and gradual rate hikes remain appropriate, Cleveland Federal Reserve President Loretta Mester said on Saturday.
The Fed raised rates in December for the first time in nearly a decade. But further tightening has proven hard to achieve, and most economists now see the next move in September.
"I still believe that in order to achieve our monetary policy goals, a gradual upward pace of the funds rate is appropriate," Mester, a voting member on Fed policy this year, told reporters in the Swedish capital.
"The timing of actually when the rate hikes would occur and the slope of that gradual path is data-dependent." Fed policy-makers next meet on June 14-15 to decide on rates.