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Boston Fed President warns on persistent inflation
Boston Federal Reserve Chair Susan Collins warned of the possibility that inflation could remain above the 2% target for a prolonged period, despite her support for raising interest rates by a quarter of a percentage point to ensure a durable slowdown in inflationary pressures. She indicated that the labor market remains strong with the unemployment rate falling, providing room to focus monetary policy on price stability. Markets are pricing in a 53% chance of a rate hike, due to ongoing price pressures, especially given the rise in energy and commodity prices, which hampers economic recovery.
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