Boston Fed’s Collins says rates should stay steady for ‘some time’
CNBC · Just In
CNBC
Just In
Boston Federal Reserve President Susan Collins said it’s appropriate to keep policy rates at their current level for now. Her remarks come as FOMC members signal caution on rate cuts amid ongoing inflation and economic uncertainty.
Breakdown
- Boston Fed President Susan Collins said it is likely appropriate to keep policy rates at current levels for 'some time.' 6s
- Collins warned that additional monetary support could hinder the return of inflation to the Fed's 2% target and is hesitant to ease further without signs of labor market weakness. 15s
- A critical mass of Fed officials now either oppose a rate cut or suggest moving more slowly, creating a significant divide within the committee. 56s
- Market expectations for a December rate cut dropped from 64% to 61% following Collins' comments. 1m 22s
- Upcoming government data on inflation and the labor market will be crucial in determining the Fed's next policy steps. 1m 53s