Fed's Collins (2028 voter) says recent PCE report did not change modal outlook that current monetary policy is restrictive and will likely lead to a gradual disinflation

Portfolio management fees had an outsized influence on headline inflation, with market-based prices more in line with the Fed's target. Recent inflation data is mixed, with headline figure stronger than expected but promising signs in the details. Recent increases in bond yields are still consistent with price stability, not a sign that inflation expectations are increasing. Absent new tariffs and oil shocks, there are reasons to think inflation will ease. Is watching bond yields, but has no comment on Bessent's intervention.