Boston Fed President Susan Collins said on Thursday that she believes it will ‘soon’ be appropriate for the central bank to begin reducing rates
Federal Reserve policy-makers on Thursday said that with inflation well down from its highs they are paying close attention to the U.S. labour market to gauge when to begin reducing interest rates, with one saying they should move “soon.”
Collins, in an interview with Fox Business on the sidelines of the annual global central banker economic symposium in Jackson Hole, Wyoming, said that inflation has eased “quite a lot.” The Fed targets 2 per cent annual inflation by the personal consumption expenditures price index; by that gauge inflation was 2.5 per cent in July.
Her view contrasts with Kansas City Fed Bank President Jeff Schmid, one of the U.S. central bank’s more hawkish policy-makers.
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