Boston Fed President Collins said the job of taming inflation was not done yet, but that a series of big rate hikes had increased the risk of monetary tightening too far.
“I think the risk of over-tightening has increased with rate increases so far,” he said in an interview with Bloomberg. The interview took place on the 10th in Providence, Rhode Island.
Collins will vote at this year’s Federal Open Market Committee (FOMC) meeting. He said he expected interest rates to stabilize at a higher level than he had expected in September, but said it was not yet possible to determine at what level.
“It’s not a situation where I think it’s helpful to give specific numbers,” he said.
He added that smaller and more “cautious” rate increases than in the past should not be mistaken for a sign that the Fed is loosening its grip on price pressures.
Original title:Fed’s Collins says risk of policy tightening has increased (抜粋）