Federal Reserve Bank of Boston President Susan Collins:
- Some additional rate cuts needed as policy still restrictive.
Doesn’t want to cut rates too quickly.
Overly slow rate cuts could hurt labor market.
Final destination of rate cuts is unclear.
Monetary policy well positioned for economic outlook.
Monetary policy not on a preset course.
Fed policy decisions to be done meeting-by-meeting.
Any further slowdown in job market undesirable.
Risks to outlook are roughly in balance.
Labor market healthy, inflation moving back to 2%.
Strong productivity means wage gains not inflationary.
Economy is in a good place.
Progress to 2% inflation could be uneven.
More rate cuts needed,
not too fast,
not too slow.
How low?
Dunno.
There, that seems to cover it.
Fed's Collins