Collins Open to Rate Hike in September Amid Inflation Concerns

Boston Federal Reserve President Susan Collins is open to raising interest rates in September if inflation remains high. In an interview with the Financial Times, Collins said she would back a rate increase as soon as September if the data dictates it.

Collins cited concerns about cost-of-living strains, particularly for poorer Americans who are struggling to make ends meet. The Iran war has exacerbated these economic pressures, contributing to higher prices and inflation.

Collins noted that she would be prepared to raise rates if economic conditions in the coming months require tighter policy. However, she is not currently a voting member of the Federal Reserve's rate-setting committee.