Fed's Collins: will soon be appropriate to cut interest rates
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Federal Reserve Bank of Boston President Susan Collins stands behind the Jackson Lake Lodge in Jackson Hole, where the Kansas City Fed holds its annual economic symposium, in Wyoming, U.S., August 24, 2023. REUTERS/Ann Saphir/File Photo
(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)
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