Boston Fed President Collins: A mildly restrictive policy is very appropriate right now

Economic Outlook - The economy continues to be relatively resilient with some robustness in demand from both consumers and firms [7] - Labor market has softened with slower job growth, but the unemployment rate remains relatively low [7] - Inflation remains elevated, largely due to goods and tariffs [7] - Economic growth is likely to slow a bit later this year but is expected to pick up with solid fundamentals [8] - There's evidence that demand got pulled forward [7] - Productivity growth is robust, helping to reconcile solid demand with a softer labor market [19] - Potential growth rate could be somewhat stronger, which would be good news [21] Monetary Policy - A mildly restrictive policy is considered appropriate to ensure a return to disinflation [9][10] - Hesitancy towards further rate cuts in December, considering resilient demand and potential pressures on prices [11] - Overall financial conditions are on the accommodative side [15] - Maintaining a mildly restrictive policy is appropriate to ensure disinflation, with a cautious and gradual normalization over time [23] Global Landscape - Increases in global risk and uncertainty are impacting the US economy [25] - Potential increases in global fragmentation, affecting flows of trade, capital, labor, and technology [25][27]