Poorer and middle-income Americans are increasingly struggling to make ends meet as higher energy costs add to inflation pressures, while a top Federal Reserve official said she could support a September rate hike if economic data warrants it.
Boston Fed President Susan Collins said businesses and households in the U.S. Northeast are being squeezed by inflation, which has remained above the Fed’s 2% target for more than five years, according to a Financial Times report published Tuesday. In the interview, Collins said she was increasingly hearing from lower- and moderate-income households struggling to make ends meet.
