(Reuters) – In her first media interview since taking office this summer, the new president of the Boston Federal Reserve, Susan Collins, said bringing inflation back to 2 percent is the Fed’s “first job”, even though it has Significantly higher interest rates, “there is more work to be done.”
“It’s too soon to say exactly what the right policy move for September will be Too early,” Collins said on the 600 Atlantic podcast Wednesday, referring to the Fed’s upcoming September rate-setting meeting 20-21. At that meeting, U.S. central bankers will decide whether to raise rates for a third 75 basis point in a row, or a small half-point hike.
“I would reiterate that we need to do more, we haven’t seen a big drop in prices, and that’s what we’re looking for.”
