Fed's Collins: Markets have already priced in Fed's balance sheet actions

Odaily News Fed's Collins said the U.S. economy needs to cool in order for inflation to return to the Fed's 2% target. When it comes to monetary policy, Collins said the recent unexpected rise in economic activity and inflation suggests that policy may need to be maintained at current levels until there is greater confidence that inflation will continue to move toward 2%. Monetary policy and balance sheet policy are very different, and the market has already priced in the Fed's balance sheet actions. (Jinshi)