Fed's Collins declines to say how far Fed will hike rates

[November 19, 2022]   By Michael S. Derby
 
BOSTON (Reuters) - Federal Reserve Bank of Boston President Susan Collins on Friday declined to say how far the central bank will need to raise rates given uncertainty over the economic outlook.  

The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed/File Photo

Fed rate rises this year have been swift and put monetary policy in a “different phase,” Collins told reporters on the sidelines of a conference hosted by the Boston Fed. But with questions rising over the stopping point for those increases, Collins said “I won’t give you a number.”

The current federal funds target rate is between 3.75% and 4%. Collins is a voting member of the rate-setting Federal Open Market Committee. The Fed is widely expected to raise rates again at its December policy meeting.

(Reporting by Michael S. Derby; Editing by Dan Burns)

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