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Fed’s Collins: More restrictive policy should help inflation return to 2%

Boston Federal Reserve (Fed) President Susan Collins said in a LinkedIn post on Tuesday that she supported last week’s interest-rate hike and sees a somewhat more restrictive policy stance as appropriate to bring inflation sustainably back to the Fed's 2% target.

Key takeaways

I supported last week's rate hike.

A somewhat more restrictive federal funds rate will help ensure that inflation durably returns to target.

I now see an increased likelihood of future scenarios in which inflation remains notably above 2%.

While the upside risks to inflation have increased, labor market conditions seem a bit stronger overall.

With the labor market on a better footing, monetary policy can focus on a timely return to price stability, especially after five and a half years of too-high inflation.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Canadian Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD0.15%0.12%-0.06%0.17%0.07%-0.23%-0.10%
EUR-0.15%-0.03%-0.20%0.04%-0.05%-0.37%-0.23%
GBP-0.12%0.03%-0.19%0.04%-0.05%-0.34%-0.19%
JPY0.06%0.20%0.19%0.24%0.15%-0.18%-0.00%
CAD-0.17%-0.04%-0.04%-0.24%-0.09%-0.39%-0.24%
AUD-0.07%0.05%0.05%-0.15%0.09%-0.30%-0.14%
NZD0.23%0.37%0.34%0.18%0.39%0.30%0.16%
CHF0.10%0.23%0.19%0.00%0.24%0.14%-0.16%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Vishal Chaturvedi

I am a macro-focused research analyst with over four years of experience covering forex and commodities market. I enjoy breaking down complex economic trends and turning them into clear, actionable insights that help traders stay ahead of the curve.

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