Federal Reserve official predicts more rate hikes

The President of the Boston Federal Reserve, Susan Collins, expected the U.S. central bank to raise interest rates again this year due to persistent high inflation and geopolitical challenges such as renewed fighting in the Middle East. She supported the recent decision to raise the interest rate to approximately 3.9% and anticipated that rates would remain unchanged next year. She noted that inflation has not reached the 2% target for more than five years, accompanied by inflationary pressures resulting from supply shocks and geopolitical events, making an upward trajectory in interest rates likely again.

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