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Fed’s Collins: Progress needed for interest rate adjustment will take longer

FXStreet

Updated May 22, 2024 06:32

Reviewed by

Mitrade

Federal Reserve Bank of Boston President Susan Collins spoke at “Central Banking in the Post-Pandemic Financial System” on Wednesday. Collins said that progress toward interest rate adjustment will take longer.

Key quotes

Elevated uncertainty continues to be a feature of the economy, can't overreact to any data point.

Progress needed for interest rate adjustment will take longer.

Fed well positioned, time for patience.

Policy restrictions evident in some indicators.

Market reaction

The US Dollar Index (DXY) is trading 0.04% lower on the day at 104.60, as of writing.

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