Boston Fed President Susan Collins is the latest U.S. central banker to maintain a higher policy rate is needed to successfully bring down inflation
to “just above” 5 per cent and then hold them there for a period, Boston Fed President Susan Collins said on Thursday, the latest U.S. central banker to maintain a higher policy rate is needed to successfully bring down inflation.
Collins also said it was now appropriate to slow the pace of rate hikes, after the central bank last year lifted borrowing costs at the fastest pace in 40 years in order to bring down high inflation by dampening demand across the economy. “More measured rate adjustments in the current phase will better enable us to address the competing risks monetary policy now faces – the risk that our actions may be insufficient to restore price stability, versus the risk that our actions may cause unnecessary losses in real activity and employment,” Collins said.
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