Monetary policy currently in right place, says US Fed

Federal Reserve Bank of Boston President Susan Collins said Saturday that she's still leaning against the US central bank cutting its interest rate target next month as it faces ongoing risks to both its inflation and job mandates.

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“I do see reasons to be hesitant” about lowering the cost of short-term borrowing at the December 9-10 Federal Open Market Committee meeting. “My own view is that policy is currently in the kind of mildly restrictive range after the 50-basis-point easing that we did in September and October, and that's appropriate” given the current state of the economy, Collins told reporters at a conference at her bank.