Fed’s Collins Favors Holding Rates Steady to Cool Inflation

Federal Reserve Bank of Boston President Susan Collins said she favored holding interest rates steady amid still-strong growth that could slow or stall progress on cooling inflation.

“It will likely be appropriate to keep policy rates at the current level for some time to balance the inflation and employment risks in this highly uncertain environment,” Collins said Wednesday in prepared remarks for the bank’s annual regional banking conference.

The Boston Fed chief, who votes on policy this year, said last month’s rate cut — the second in a row — was “prudent” in order to support ...