Federal Reserve Bank of Boston President Susan Collins stands behind the Jackson Lake Lodge in Jackson Hole, where the Kansas City Fed holds its annual economic symposium, in Wyoming, August 24, 2023.Ann Saphir | ReutersBoston Federal Reserve President Susan Collins on Wednesday advocated a patient approach to policymaking while saying she needs more evidence to convince her that inflation has been tamed.In remarks that aligned with sentiment from other key central bankers, Collins said the Fed may be “near or even at the peak” for interest rates.However, she noted that more increases could be needed depending on how the data shake out from here.”Overall, we are well positioned to proceed cautiously in this uncertain economic environment, recognizing the risks while remaining resolute and data-dependent, with the flexibility to adjust as conditions warrant,” Collins said in prepared remarks for a speech in Boston.Those sentiments mesh with recent statements from Fed Chair Jerome Powell and Governor Christopher Waller. Both also supported the patient approach while cautioning that they view recent positive developments on inflation with caution and are ready to approve additional rate hikes if needed.In a CNBC interview on Tuesday, Waller contended the Fed can “proceed carefully” on policy while noting that it had been “burned twice before” in the past few years on inflation that appeared to be slowing but then turned around.In her speech, Collins also noted some good news on inflation, as the Fed’s preferred gauge rose just 0.2% in July while wage growth also seems to have slowed.However, she cautioned that “it is diff …
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