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After the wildfires — lessons on being prepared | SaltWire #wildfire #novascotia #thinkingoutoudNEW YORK - Federal Reserve Bank of Boston President Susan Collins said on Wednesday that the U.S. economy needs to cool off as an avenue toward getting inflation back to the central bank’s 2% target.
Collins' remarks were her first since last week’s Federal Open Market Committee meeting. Then, officials maintained their overnight target rate range at between 5.25% and 5.5%, as they continued to grapple with inflation pressures that have proved over this year more sturdy than they had expected. In her remarks, Collins said “overall, policy remains well positioned to respond to incoming information, as we assess the evolving outlook and risks.” She also said she’s “optimistic” the Fed can get inflation to 2% “in a reasonable amount of time, with a labor market that remains healthy.”
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