Fed’s Collins: will soon be appropriate to cut interest rates
9:11 am Thursday, August 22nd, 2024
(Reuters) – It will soon be appropriate for the Federal Reserve to begin a rate-cutting cycle, Boston Fed President Susan Collins said on Thursday, signaling her likely support for a rate cut at the U.S. central bank’s policy meeting next month.
“We’ve seen quite a lot of reduction in inflation. The reduction to me is consistent with more confidence that we are on that trajectory and with labor markets healthy overall, I do think that soon it is appropriate to begin easing,” Collins said in an interview with Fox Business.
“I think a gradual, methodical pace once we are in a different policy stance is likely to be appropriate,” Collins added, as she noted that preserving the health of the labor market is a priority.
(Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama)
