(Reuters) - Boston Federal Reserve Bank's new President Susan Collins, in her first media interview since starting the job this summer, said that bringing inflation back down to 2% is the Fed's "Job One," and while it has raised rates significantly, "there's more to do."
"It's really premature right now to be too specific about exactly what the right policy move will be in September," Collins said in a Six Hundred Atlantic podcast published Wednesday, referring to the Fed's upcoming rate-setting meeting on Sept. 20-21. At that meeting, U.S. central bankers are to decide whether to deliver a third straight 75-basis point rate hike or a smaller half-point increase.
"I will reiterate that we need to do more, we've not yet seen significant declines in prices, and that's what we're going to be looking for."