Boston Fed President Susan Collins stated in a speech that “additional policy easing is needed” as monetary policy remains “at least somewhat restrictive.”
She acknowledged that the “final destination” of policy adjustments is “uncertain”, and emphasized the importance of a “careful and deliberate” approach. FOMC should take the time to “holistically assess” data and evaluate its implications for the economic outlook and balance of risks.
Collins described the economy as being in a “good place overall,” with inflation on track to return to Fed’s 2% target, albeit unevenly. She noted that while the labor market is healthy, job growth is becoming increasingly concentrated in fewer sectors. Collins warned that “any further slowing in hiring would be undesirable”.
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