Fed’s Collins Favors Holding Rates Steady for ‘Some Time’

Federal Reserve Bank of Boston President Susan Collins said interest rates should remain on hold for “some time,” arguing she is particularly concerned about elevated inflation.

“More than five years of above-target inflation has reduced my patience for ‘looking through’ another supply shock,” Collins said Wednesday in prepared remarks for an event organized by the Boston Economic Club.

If the war in the Middle East is resolved “relatively soon,” Collins expects this year to bring solid economic growth, a possible modest rise in the unemployment rate and little to no progress on lowering inflation.

“I believe ...