Boston Fed President: If inflation continues to slow, rate cuts will come "very soon"!

Boston Fed President Collins said that if inflation continues to slow, the Fed will cut interest rates soon. Despite employment data falling below expectations, the labor market remains strong. Collins expects interest rates to be lower in the coming years. She mentioned that there will be a new summary of economic forecasts released in September. Collins emphasized the importance of data, but also acknowledged its noise. She believes that monetary policy should focus on price stability and maximum employment. Collins pointed out that the labor market conditions are relatively healthy and consistent with the inflation target. The rise in the unemployment rate involves multiple factors, including an increase in labor force participation and a continuous increase in the number of immigrants