Fed's Collins: Monetary policy well-positioned, time for patience and care

Federal Reserve Bank of Boston President Susan Collins said on Wednesday that the US economy is solid overall and added that the monetary policy is well-positioned, per Reuters.

Key takeaways

"Time for patience and care."

"Supported Fed's decision to hold steady on rates last week."

"Tariffs likely to push up inflation, lower growth and hiring."

"Expecting to see more tariff impact over coming months."

"Expecting it to be appropriate to lower rates later this year but much depends on tariffs."

Market reaction

These comments failed to trigger a noticeable market reaction. At the time of press, the US Dollar (USD) Index was up 0.15% on the day at 98.12.

These comments from Collins received a neutral score of 5.4 from FXStreet Fed Speech Tracker.