Fed Member: Rate hike needed by 2026

Susan Collins, Chair of the Federal Reserve Bank of Boston, stated that the bank may need to raise interest rates again before the end of 2026 to control high inflation. She supported the Federal Open Market Committee's previous decision to increase rates and anticipated that another hike would be appropriate before year's end to ensure inflation returns permanently to its target of 2%, relying on economic data and risk balance. The Federal Reserve recently raised interest rates to a range of 3.75% to 4.00%, with expectations of a potential increase before the end of 2026, likely in December according to bank officials' statements.

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