Boston Federal Reserve Governor Susan Collins said that further interest rate hikes may be needed before the end of this year to help curb inflation. “I also currently anticipate that in order to ensure that inflation returns to the Commission's 2% target in a timely and lasting manner, it is appropriate to raise interest rates a little more before the end of this year,” Collins said in a speech prepared for a banking conference hosted by the Boston Federal Reserve. Collins cautioned that her views on whether interest rates need to be further adjusted and the timing of action will depend on data released in the future. The minutes of the Federal Reserve's September meeting show that the Federal Open Market Committee's decision to raise interest rates by 25 basis points in the same month received unanimous support from 19 policymakers. Federal Reserve Chairman Kevin Walsh said the interest rate hike was aimed at removing “a dose of easing.”

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