Fed's Collins
Boston Fed president Susan Collins is speaking and says:
- Likely to cut rates later this year if the economy meets expectations.
- Monetary policy is well positioned for current outlook.
- Progress back to 2% inflation could be uneven and bumpy.
- When cuts start, they should be gradual and methodical.
- Supported FOMC decision to keep rates steady last week.
- Needs more data before supporting rate cut.
- Strong January jobs data shows why caution warranted.
- Economy needs to moderate to get to 2% inflation.
- Needs to see wage gains moderate to aid move to 2% inflation.
- Recent data shows economic resilience, demand to take time to moderate.
