Susan M. Collins, the president of the Federal Reserve Bank of Boston, has maintained a steady belief that inflation can be controlled without causing a recession since taking office 16 months ago. Despite reports that inflation slowed in October and predictions that the Fed may stop raising rates, Collins believes it is too soon to make that call and that another rate hike is still a possibility.
Collins emphasized the importance of maintaining a restrictive stance on interest rates until there is evidence that inflation is under control during a press conference at the Boston Fed headquarters. She stressed the need for patience and keeping all options on the table.
The national unemployment rate has risen in recent months, but it remains historically low, and Collins cited the economy’s resilience as a reason for her optimistic outlook. While she acknowledged some promising signs of inflation coming down, she emphasized that there is still progress to be made.
Overall, Collins’s perspective is that the economy can navigate the challenges posed by inflation and unemployment, but she maintains a cautious and patient approach to monetary policy.