Fed: We remain open to hikes of 75 basis points if necessary – Susan Collins

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The Boston Fed President Susan Collinssaid on Friday that the time has come for the Fed to shift its focus from the size of rate hikes to the “ultimate destination,” as reported by Reuters.

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“The Fed enters a new phase of the monetary policy tightening cycle.”

Inflation still too high, Fed must restore price stability“.

“There are signs that the rise in inflation is beginning to moderate.”

“Smaller rate hikes are likely to be more appropriate going forward.”

We remain open to hikes of 75 basis points if necessary“.

“Fed policy is now in restrictive territory.”

“It’s premature to say how far the Fed will need to raise rates.”

“I don’t think a big slowdown is necessary to achieve price stability.”

“The Fed will have to balance risks against prospects more as it goes forward.”

“I am optimistic about the future path of the economy.”

Market Reaction

The dollar remains under strong selling pressure with the Dollar Index down 1.5% on the day to trade at 111.25.

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Source: Fx Street

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