Boston Fed governor says excessive tightening ‘risks have increased’ with sharp rate hikes – Bloomberg

Boston Fed Chairman Collins said the job of taming inflation was not done yet, but that a series of steep rate hikes had increased the risk of a monetary tightening too much.

“I think so far the risk of overtightening has increased with rate hikes,” he said in an interview with Bloomberg. The interview took place on the 10th in Providence, Rhode Island.

Collins will vote at this year’s Federal Open Market Committee (FOMC) meeting. He said he expects interest rates to stabilize at a higher level than he had expected in September, but he said it was not yet possible to determine at what level.

“It’s not a situation where I think it’s helpful to give specific numbers,” he said.

He added that a smaller and more “cautious” rate hike than in the past should not be confused with a signal that the Fed is loosening its grip on price pressures.

Original title:The Fed’s Collins says the risk of excessive policy tightening has increased(extract)