[Fed Mestre: policy interest rates have not yet reached a sufficiently restrictive level] Federal Reserve Mestre said that the Fed has not yet raised interest rates to a sufficiently restrictive level, suggesting that she is in favor of further tightening monetary policy. "based on the data I have obtained so far, given the stubbornly high inflation, I cannot say that interest rates are now 50 per cent likely to be raised or cut next time," Mr Mestre said during a question-and-answer session at an event in Dublin on Tuesday.