Fed’s Collins: Soon is appropriate to begin cutting rates

• Asked about job benchmark revisions, says data overall tells a consistent story
• Labor market overall is quite healthy and we want to preserve that
• Unemployment is still low and jobless claims indicate orderly rebalancing
• Labor market overall is quite healthy and we want to preserve that
• Soon is appropriate to begin cutting rates
• A gradual and methodical pace of cuts is likely to appropriate once we are in a different policy stance
• Still see quite a bit of resilience among consumers, also stress pockets though
• Preserving a healthy labor market is a priority

This is an important point and suggests the Fed will be on auto-pilot once it starts cutting, likely by 25 bps every meeting until 3.50% or 3% barring any surprises.

This article was written by Adam Button at www.forexlive.com.