Federal Reserve Bank of Boston President Susan Collins said further interest-rate increases are possible and borrowing costs may need to stay higher for longer than previously expected for the US central bank to achieve its 2% inflation goal. “I expect rates may have to stay higher, and for longer, than previous projections had suggested, and further tightening is certainly not off the table,” Collins said Friday in remarks prepared for an event hosted by the Maine Bankers Association. Fed officials left their benchmark interest rate unchanged this week and signaled borrowing costs will likely remain at elevated ... (full story)