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Fed’s Collins Says Half-Point Rate Cut Was ‘Prudent’ Given Risks
Federal Reserve Bank of Boston President Susan Collins said it was “prudent” for officials to lower rates by a half percentage point last month as inflation declines and the economy becomes more vulnerable to shocks. “I saw an initial 50-basis-point rate reduction as prudent in this context, recognizing that monetary policy remains in restrictive territory,” Collins said Wednesday in remarks prepared for an event in Worcester, Massachusetts. “Further adjustments will likely be needed.” The Boston Fed chief largely repeated comments she made on Tuesday, including her view that policymakers should take a ... (full story)