Federal Reserve's Collins: Now is not the time to cut interest rates
ChainCatcher news, according to Jinshi reports, Federal Reserve's Collins stated on Tuesday not to be misled by recent inflation data. Collins said, "It is still too early to determine whether the inflation rate is sustainably returning to the 2% target. We should not overreact to one or two months of optimistic news, just as we should not draw too many signals from the disappointing data earlier this year."She also mentioned that now is not the time to cut interest rates, and more evidence of easing price pressures is needed. Nevertheless, Collins believes the economy is likely back on track: "I am optimistic that, with a healthy labor market, we can restore price stability in a reasonable timeframe." Collins stated that, overall, the Federal Reserve has made "significant progress" in reducing inflation.