WASHINGTON, May 31 ― Federal Reserve Bank of Cleveland President Loretta Mester sees no "compelling” reason to wait to implement another interest rate hike, Financial Times (FT) reported today.

"I don't really see a compelling reason to pause,” Mester told FT in an interview.

"I would see more of a compelling case for bringing the rates upand then holding for a while until you get less uncertain about where the economy is going.”

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 US central bank's policy tightening so far.

Ten straight interest-rate hikes by the Fed have brought the US policy rate to a 5.00 per cent-5.25 per cent range.

Mester also said the debt ceiling deal brokered by President Joe Biden and House Speaker Kevin McCarthy could relieve "a big piece of uncertainty about the economy”.

The legislation passed an important hurdle late yesterday, advancing to the full House of Representatives for debate and an expected vote today. ― Reuters