US Economy News Today: Fed’s Collins Says Inflation Fight Will Take ‘Longer Than We Thought’

igh interest rates are showing signs of working to bring down price pressures, but the data still isn’t painting a clear enough picture yet for the Federal Reserve to make a change to interest rates, said Boston Federal Reserve President Susan M. Collins Wednesday.

“I do remain optimistic that this can be accomplished in a reasonable amount of time, and with a labor market that remains healthy, but there is a significant amount of uncertainty around that outlook,” Collins told a Massachusetts Institute of Technology audience. “It’s just going to take longer than we thought.”

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