Boston Fed President Susan Collins said yesterday, “we will need to do some additional rate increases and exactly what the right amount is really needs to be dependent on a holistic review of the information that we receive.”
“It will be important to hold there for some time because it takes a while for the effects of tighter financial conditions to work through the economy,” she added.
“We’ve seen some early signs that wage and price pressures might be slowing,” she said. “But we’ve also seen some evidence that high inflation” remains, particularly in some areas of services.
