Fed's Collins (2028 voter) reiterates she supported last week's rate hike; now see an increased likelihoood of future scenarios in which inflation remains notably above 2%

While the upside risks to inflation have increased, labour market conditions appear a bit stronger overall. With labour market on a better footing, monetary policy can focus on a timely return to price stability, especially after five and a half years of inflation being too high. Somewhat restrictive FFR will help ensure inflation durably returns to target.