Fed's Mester: A rate increase may be needed later this year

Additional comments from Cleveland Fed President Loretta Mester continue to cross the wires with key quotes, via Reuters, found below.

• Would be comfortable ending process of running down balance sheet before end of year.
• She doesn't think ending balance sheet trimming would have material impact on economy.
• A rate increase may be needed later this year.
• Prefers to announce balance sheet plan sooner and not taper.