US Federal Reserve Bank of Boston President Susan Collins on Friday said it is appropriate now for the US Federal Reserve to start interest rate cuts. Moreover, the consumer price inflation (CPI) inflation data remains the last hurdle before the much-awaited Fed rate cuts.
Fed Collins Agrees On Starting Rate Cuts By US Fed
Boston Fed President Susan Collins, in an interview with the Providence Journal, said the US Federal Reserve could begin easing interest rates provided that CPI inflation release cool further amid a strong labor market. The latest weekly jobless claims fell more than expected, driving a rebound in the market.
“If the data continue the way that I expect, I do believe that it will be appropriate soon to begin adjusting policy and easing how restrictive the policy is,” Collins said. “My outlook is for continued gradual reduction back to our 2% target amid a healthy labor market.”
She refused to provide more detail on the timing and extent of the Fed rate cuts, b
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