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Federal Reserve Bank of Boston President Susan Collins said she’s looking for more evidence that inflation is durably set to align with policymakers’ 2% target before moving to cut interest rates, though that step is likely “later this year.”
U.S. central bankers want to hold off on cutting interest rates until they have more confidence that inflation is headed down to 2%, and on Wednesday gave a range of reasons for feeling little urgency to start easing policy soon or to move quickly once they do.