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Matt Dusk sings Sinatra in Halifax/PEI/Moncton | SaltWireNEW YORK - Federal Reserve Bank of Boston President Susan Collins said Wednesday while the odds of the economy escaping a recession have grown, it’s possible the central bank is not done with interest rate hikes aimed at bringing inflation back to its target.
With the Fed having raised rates from near zero levels in the spring of 2022 to the current 5.25%-5.5% range, Collins, who does not have a vote on the rate setting Federal Open Market Committee this year, said now is a time for the Fed to take its time to decide what its next move will be. Collins’ remarks came after the release of meeting minutes from the Fed’s September gathering. Then, officials held rates steady but kept the option alive of raising them again even as inflation pressures have been cooling. In recent comments, a slew of officials have cited rising bond market yields, which should create restraint on the economy, as a factor that may allow them to call it a day on their rate hike cycle.
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