Fed’s Collins: Further tightening possible, though “patience” required

Further Federal Reserve interest rate increases are "not off the table" with inflation still not clearly contained, Boston Federal Reserve President Susan Collins said in remarks on Friday backing the current central bank outlook for interest rates to remain "higher, and for longer." Collins tempered her outlook by saying that the current environment required "considerable patience" from policymakers to be sure they get the right signal from data they are studying to be confident inflation is on a steady downward track back to their 2% target. On that front recent inflation data has been "encouraging," Collins said in prepared remarks to the Maine Bankers Association, but not yet convincing.