(Clarifies in paragraph 17 that Mester was referring to core inflation) By Howard Schneider WASHINGTON (Reuters) -Faced with mounting evidence that loose U.S. monetary policy contributed to the breakout of inflation last year, the Federal Reserve now faces the risk it jumped too far the other way with its plans to fight price pressures through continued aggressive interest rate hikes even as the world economy wobbles. The warning signs of a policy overcorrection have intensified as the U.S. central bank’s intent to “raise and hold” its benchmark overnight interest rate touched off a global ass…