Fed's Collins
Boston Fed President Susan Collins is speaking and says:
- Expects demand will need to slow to get inflation to 2%.
- Fed policy well-positioned for current Outlook.
- Monetary policy is moderately restrictive.
- There are risks to cutting rates too soon.
- Doesn't expect productivity jumped to be persistent.
- Firms well-positioned to absorb faster wage growth.
- Recent inflation setbacks are not a surprise.
- Optimistic Fed can get 2% inflation in reasonable timeframe.
- Economy is robust job market coming into better balance.
Comments from Fed's Collins supports no hike, but not in a hurry to cut rates soon either. Collins is NOT a voting member in 2024
Yields in the US remain modestly higher:
- 2-year yield 4.826%, -0.2 basis points
- 5-year yield 4.486%, +1.6 basis points
- 10 year yield 4.481%, +2.1 basis points
- 30-year 4.624%, +2.0 basis points