Boston Fed Chairman Says More Rate Hikes Needed to Calm Inflation

Susan Collins, the new president of the Federal Reserve Bank of Boston, said she was committed to bringing inflation down to 2%, even if that meant slowing the economy.

Ms. Collins, in her first public remarks as Boston Fed leader, said on Monday she supported further interest rate hikes, as forecast by Federal Reserve officials last week. They showed that the central bank would increase aggressively next year, despite growing fears of an economic slowdown or recession.