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Inflation & Prices

Fed’s Collins Says Further Tightening Needed to Cool Inflation

  • In first public speech, official says inflation is too high
  • Somewhat higher unemployment may be required, she says
Susan Collins
Susan CollinsPhotographer: Peter Davis/Federal Reserve Bank of Boston
Updated on

Federal Reserve Bank of Boston President Susan Collins, in her first public speech since taking office, said additional tightening is needed to rein in stubbornly high inflation and cautioned the process will require some job losses.

“Returning inflation to target will require further tightening of monetary policy, as signaled in the recent FOMC projections,” Collins said Monday in remarks prepared for an event with the Greater Boston Chamber of Commerce. “It will be important to see clear and convincing signs that inflation is falling.”