Fed's Collins (2028 voter) still expect interest-rate cuts 'down the road' and expect PCE inflation to move above 3.5%, and year-end near 3%

'Strongly supportive' of decision to hold rates. Expect rates to be on hold 'for a longer period'. Odds of worse inflation scenario have increased. Preferred to adjust wording that signals cutting bias. Alternative scenario could make Fed consider a hike.