Susan M. Collins, Speech: Why Did We Miscast Inflation?

Video (and transcript) of the panel discussion are not yet available – speech is summarized below.

Inflation

“Inflation remains too high, and recent data – including several strong labor market indicators, as well as faster than expected retail sales and producer price inflation – all reinforce my view that we have more work to do, to bring inflation down to the 2 percent target. While optimistic there is a path to restoring price stability without a significant downturn, I am also well aware of the many risks and uncertainties, including the risk of a self-fulfilling loss of business and consumer confidence.”

Fed Funds

“Policy actions to date continue to demonstrate the committee’s resolve – and it is helpful to see further declines in longer term inflation expectations, consistent with the credibility of our commitment. I anticipate further rate increases to reach a sufficiently restrictive level, and then holding there for some, perhaps extended, time.”