MNI BRIEF: Fed's Collins Expects Rates High For Longer

The Federal Reserve is "extremely likely" to hold for a substantial amount of time at its peak rate, Boston Fed President Susan Collins said Thursday, and she's still open to additional increases.

"We may be near, it could even be at a place where we would hold, but certainly additional increments are possible, and we need to look holistically and be really patient right now, and not to try to get ahead of what the data will tell us as it unfolds," she said in an interview with Yahoo Finance in Jackson Hole. (See: MNI INTERVIEW: Fed's Harker Sees Rates On Hold Thru Year-End)

"I don't think it's helpful to say a preset path, we may need additional increments, and we may be very near a place where we can hold for a substantial amount of time," Collins said.