PANews reported on November 13th that Boston Fed President Collins, a voting member of the FOMC this year, said on Wednesday that she believes the threshold for further interest rate cuts in the near term is "relatively high" due to concerns about persistently high inflation. Collins voted for a rate cut last month. "Unless there are clear signs of a deterioration in the labor market, I would be cautious about further policy easing, especially given the limited inflation data we have due to the government shutdown… In the current highly uncertain environment, maintaining the policy rate at its current level for some time may be appropriate to balance inflation and employment risks." Her remarks highlight deep divisions within the Fed. Since the last rate cut, several Fed officials, including Collins and some non-voting members, have signaled increasing caution regarding further rate cuts. Collins believes that short-term borrowing costs are currently in a "mildly tight" range, while overall financial conditions still provide a tailwind for economic growth. While the labor market has indeed slowed, downside risks have not intensified since the summer. (Jinshi Data APP)PANews reported on November 13th that Boston Fed President Collins, a voting member of the FOMC this year, said on Wednesday that she believes the threshold for further interest rate cuts in the near term is "relatively high" due to concerns about persistently high inflation. Collins voted for a rate cut last month. "Unless there are clear signs of a deterioration in the labor market, I would be cautious about further policy easing, especially given the limited inflation data we have due to the government shutdown… In the current highly uncertain environment, maintaining the policy rate at its current level for some time may be appropriate to balance inflation and employment risks." Her remarks highlight deep divisions within the Fed. Since the last rate cut, several Fed officials, including Collins and some non-voting members, have signaled increasing caution regarding further rate cuts. Collins believes that short-term borrowing costs are currently in a "mildly tight" range, while overall financial conditions still provide a tailwind for economic growth. While the labor market has indeed slowed, downside risks have not intensified since the summer. (Jinshi Data APP)
Federal Reserve's Collins: Keeping interest rates unchanged for some time may be the right approach.
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PANews reported on November 13th that Boston Fed President Collins, a voting member of the FOMC this year, said on Wednesday that she believes the threshold for further interest rate cuts in the near term is "relatively high" due to concerns about persistently high inflation. Collins voted for a rate cut last month. "Unless there are clear signs of a deterioration in the labor market, I would be cautious about further policy easing, especially given the limited inflation data we have due to the government shutdown… In the current highly uncertain environment, maintaining the policy rate at its current level for some time may be appropriate to balance inflation and employment risks." Her remarks highlight deep divisions within the Fed. Since the last rate cut, several Fed officials, including Collins and some non-voting members, have signaled increasing caution regarding further rate cuts. Collins believes that short-term borrowing costs are currently in a "mildly tight" range, while overall financial conditions still provide a tailwind for economic growth. While the labor market has indeed slowed, downside risks have not intensified since the summer. (Jinshi Data APP)
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