Boston Fed's Collins open to interest rate increase in September, FT says

U.S. Federal Reserve Bank of Boston President Susan Collins would back a September interest rate rise if inflation remains high, with poorer Americans struggling to make “ends meet” as the Iran war has worsened cost-of-living strains, the Financial Times reported on Wednesday.

Collins told the FT in an interview that she would be open to backing an increase as soon as September if the data dictated it. “I do see the possibility that economic conditions in the coming months will require tighter policy, and I would be prepared to raise rates in that context,” she said.

The Boston Fed president is not currently a voting member of the central bank's rate-setting Federal Open Market Committee.