Cleveland Fed President Loretta Mester said inflation data released on Thursday showed policymakers have more Long work to cool price pressures, but also noted that she did not change her expectation that the Fed will cut interest rates three times this year. She said that didn't really change her view that inflation would fall to its 2% target over time, but it did show that the Fed still had some unfinished business. For now, if the economy develops as she expects, she feels it's the right one. Fed officials will update these projections at their March 19-20 meeting.