Boston Fed President Susan Collins said, “I do anticipate that accomplishing price stability will require slower employment growth and a somewhat higher unemployment rate.” But she added that “the goal of a more modest slowdown, while challenging, is achievable.”
“A significant economic or geopolitical event could push our economy into a recession as policy tightens further,” she warned. “Moreover, calibrating policy in these circumstances will be complicated by the fact that some effects of monetary policy work with a lag.”
