Fed's Mester: rate hike possible under the right circumstances

Fed's Mester says monetary policy is restrictive; economy was stronger than I expected in Q1; restrictive policies have eased the labor market; inflation risks still tilted to the upside; the latest CPI data was pleasing but still too high; still think inflation will fall; rate hikes are possible under the right circumstances, but not the baseline scenario; there is reason to believe that the neutral rate is higher than it has been in the past; don't think that 2024 expectations of three rate cuts in 2024 remain appropriate.