Fed’s Collins: Steady, Gradual Rate Hikes Appropriate Given Two-Sided Risks

Cointime update: Federal Reserve official Collins said on November 14 that with risks running in both directions, a steady and gradual approach to raising interest rates is appropriate. She said the Fed may need to lift rates above recent projections given inflation and employment data, and that the labor market is “unusually stable” and could strengthen further. Collins said restoring inflation stability is the best way to address high living costs, and the Fed must bring inflation down to 2%.