11.3 C
New York
Monday, January 30, 2023

Boston Fed’s Collins supports 25 bps hike – NYT

Boston Fed's Collins supports 25 bps hike - NYT
Boston Fed’s Collins supports 25 bps hike – NYT

 

SPY
+1.26%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

By Sam Boughedda

The Federal Reserve Bank of Boston’s president, Susan M. Collins, stated that she was leaning toward raising interest rates by a quarter point at the central bank’s next meeting in an interview with the New York Times today.

A potential quarter-point rate hike would represent a slowdown and move towards a normal pace of monetary policy, following a year of aggressive hikes to control soaring inflation.

There were recently four consecutive three-quarter point adjustments, but the Federal Reserve slowed down in December with a half-point increase.

In recent days, a few of the Fed’s regional presidents have suggested an even smaller adjustment could be possible when the Fed makes its next decision on February 1.

Collins said in the interview with the NYT that she thinks “25 or 50 would be reasonable,” and that she would “lean at this stage to 25, but it’s very data-dependent.”

She added that adjusting slowly “gives more time to assess the incoming data” before they make each decision. “Smaller changes give us more flexibility,” stated Collins.

Ms. Collins is one of the Central Bank’s 12 regional presidents and one of the 19 policymakers. However, she does not have a formal vote on rate changes this year but will join in deliberations.

Nevertheless, Collins said she favors raising interest rates to just above 5% this year.

Source: Investing.com

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,268FansLike
12,893FollowersFollow
742FollowersFollow
- Advertisement -

Latest Articles

Popular Articles