Fed official says Iran war pushed her toward supporting rate hike
WASHINGTON (AP) — A top Federal Reserve official said Monday that the renewal of combat in the Middle East in August was a key reason she supported raising borrowing costs last week, when she also penciled in a second rate hike for later this year. Susan Collins, president of the Federal Reserve Bank of Boston, said in an interview with The Associated Press that she agreed with the Fed’s decision Wednesday to lift its benchmark interest rate by a quarter-point to about 3.9%. She also expects that the Fed will keep rates unchanged next year, she added. “I did not see the inflation ...