Fed official predicts rate increase

Boston Federal Reserve President Susan Collins stated that ongoing inflation and Middle East tensions in August led her to support a rate hike last week. She expects the bank to continue raising interest rates later this year. She mentioned that the main interest rate is currently being raised to around 3.9% and anticipates it will remain unchanged next year. She pointed out that inflation has remained above the 2% target for over five years and that geopolitical developments could further pressure energy prices.

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