US stock futures edge lower after S&P 500 hits record high; PCE data in focus
Investing.com -- Boston Federal Reserve Bank President Susan Collins indicated on Thursday that July might be too early for the central bank to begin cutting interest rates.
"We’re only going to have really one more month of data before the July meeting," Collins told Bloomberg News. "I expect to want to see more information than that."
Collins emphasized there is no rush to reduce rates. She noted that her baseline forecast, which includes the Fed resuming rate cuts later in 2023, could mean just one reduction or possibly more, depending on economic data.
"I see no urgency to cut rates," Collins said, adding that her expectation of rate cuts resuming later this year "could mean one rate cut, it’s possible it means more than that, but I think the data will really need to tell us."
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