Collins said that while core inflation pressures remain elevated, she is increasingly confident inflation is moving back to the Fed's 2% target.

Dallas Federal Reserve Bank President Lorie Logan on Wednesday said she supported last month's outsized interest-rate cut but wants smaller reductions ahead, given "still real" upside risks to inflation and "meaningful uncertainties" over the economic outlook.

The labor market remains in a good place overall—neither too hot nor too cold,” said the Boston Fed president.

Employment and economic data already are surprising to the upside since the Federal Reserve cut rates in September

But the Fed's recent rate cut, and any future rate cuts that come down the pike in the next year, should not influence your retirement savings strategy. Simply put, if you're still many years away from retirement, you should be putting the bulk of your savings into the stock market.

Federal Reserve Bank of Boston President Susan Collins said policymakers should use a careful, data-dependent approach as they lower interest rates to help preserve the strength of the US economy.

Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy.

Boston Fed President Susan Collins said Tuesday that there are risks to the U.S. economy not only from sticky inflation, but also an economic downturn.

Boston Fed president Susan Collins said the central bank will likely need to cut interest rates further, the latest in a chorus of Fed policymakers to publicly support more monetary policy easing after the first cut in more than four years.