Boston Fed's Susan Collins says rates likely need to rise further

Susan Collins, president of the Federal Reserve Bank of Boston, said on October 13 that interest rates will probably have to rise further before the end of the year to bring inflation down, Bloomberg reported.

Collins made the comments at a banking conference hosted by the Boston Fed, according to Bloomberg. She did not, in the account of her remarks, specify how much additional tightening she considered necessary.

Regional Fed presidents rotate as voting members of the Federal Open Market Committee, the panel that sets the US benchmark rate, and their public remarks are watched by investors for signals on the path of policy. Comments pointing to further increases typically register in bond yields and in expectations for borrowing costs across mortgages, business loans and corporate debt.

This story was first reported by Bloomberg.