Boston Fed President Susan Collins said the banking system 'remains strong' and anticipates at least one more interest-rate increase this year.
Circle Squared Alternative Investments founder Jeff Sica weighs potential actions by the Federal Reserve following the collapse of Silicon Valley Bank.President Susan Collins said Thursday that U.S. central bankers will likely need to raise interest rates at least one more time this year to tamp down persistent inflation.
The Fed also released updated economic projections after the meeting that indicated most officials expect one more 25-basis-point increase this year. "While the banking system remains strong and resilient, recent developments will likely lead banks to take a somewhat more conservative outlook and tighten lending standards, thus contributing to slowing the economy and reducing inflationary pressures," she said. "These developments may partially offset the need for additional rate increases."
Collins said it is "premature" to say what rate moves she will support in May but said she does not foresee any rate cuts this year.
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