Collins becomes latest Fed official to warn rates will likely stay higher for longer

Boston Fed president Susan Collins said Wednesday it will take longer "than previously thought" to bring inflation down, becoming the latest policymaker to make it clear that rates need to stay at their current levels.

"I think it’s much more likely we would just sit here for longer than we expect or the public expects right now until we see what effect our monetary policy is having," Kashkari said at the Milken Institute conference in Los Angeles. "The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent," the statement read.

The job market, she said, has to become more balanced with more equal supply of workers for demand from employers. And wages need to rise in a way that is not inflationary.

Massachusetts Institute Of Technology Neel Kashkari Boston Globe Monetary Policy Fed Sloan School Of Management

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fed’s Collins Sees No Urgency to Cut Interest Rates in Near TermFederal Reserve Bank of Boston President Susan Collins reiterated she sees no urgency to cut interest rates in the near term, given elevated inflation and the resilience of the labor market.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Exclusive-Fed's Collins eyes about two rate cuts this yearFederal Reserve Bank of Boston President Susan Collins is eyeing a couple of interest rate cuts this year amid expectations it could still take some time to ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Exclusive-Fed's Collins eyes about two rate cuts this yearExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Fed’s Collins Says Data May Warrant Later, Fewer Cuts This YearFederal Reserve Bank of Boston President Susan Collins said it may take more time than previously thought to gain the confidence to begin easing policy, possibly warranting fewer rate reductions this year.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Fed's Collins sees no urgency to cut ratesThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Fed’s Jefferson Sees Steady Fed Rate Helping to Push Down InflationFederal Reserve Vice Chair Philip Jefferson said he expects inflation will continue to moderate with interest rates at their current level but persistent price pressures would warrant holding borrowing costs high for longer.
Source: BNNBloomberg - 🏆 83. / 50 Read more »