Fed's Mester says comforted that U.S. rates headed higher

A top Federal Reserve official on Thursday said she is comforted that U.S. interest rates are headed higher and has not yet been convinced to adjust her economic expectations beyond a slight delay in a boost to inflation. Cleveland Fed President Loretta Mester, asked about a possible rate hike in March, said the central bank does not want to "shock" markets that today are skeptical of a move. "I like that we are" gradually raising rates, but the Fed will respond to an economic slowdown, she said