Fed Official Collins Defends Recent Rate Hike
Boston Fed President Susan Collins defended the central bank decision to raise interest rates. She warned that persistent inflation risks remain above the two percent target.
Boston Federal Reserve President Susan Collins backed the central bank's decision to raise interest rates by a quarter of a percentage point, citing persistent inflation risks above the 2% target. The move brought the federal funds rate to the 3.75%-4.00% range during Tuesday's late morning session. Policymakers are navigating an economic landscape complicated by supply shocks originating from the conflict between Israel and Iran involving the United States military.
