Federal Reserve Bank of Boston President Susan Collins said on Wednesday that more interest-rate cuts are needed, but policymakers should proceed carefully to avoid moving too quickly or too slowly, per Bloomberg.  

Key quotes

Some additional rate cuts are needed as the policy is still restrictive.

Doesn’t want to cut rates too quickly.

Overly slow rate cuts could hurt the labor market.

The final destination of rate cuts is unclear.

Monetary policy is well positioned for the economic outlook.

Monetary policy is not on a preset course.

Fed policy decisions to be done meeting-by-meeting.

Any further slowdown in the job market is undesirable.

Risks to the outlook are roughly in balance.

The labor market is healthy, with inflation moving back to 2%.