Collins Backs Rate Hike as Path to Inflation Goal

Federal Reserve Bank of Boston President Susan Collins has publicly supported last week's interest rate hike decision. According to her LinkedIn post, the move will help bring inflation back to the central bank's 2% target.

Collins stated that a 'somewhat more restrictive federal funds rate' will ensure that inflation returns durably to target. This statement comes after five and a half years of too high inflation, with the labor market now on a better footing.