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Federal Reserve Bank of Boston President Susan Collins spoke earlier:

She went over similar ground to her comments the previous day:

Adding more now, from the Q&A:

  • Resilient economy is why rates will need to say higher for longer
  • Is carefully
    watching commercial real estate, not seeing major trouble so far
  • Fed has not decided
    whether it will extend life of bank term funding program

I mentioned yesterday that the stock markets are sleep-walking info higher inflation and higher rates, in relation to that blowout PPI figure. While today’s CPI wasn’t as shocking, albeit a little higher than expected, it appears stocks paid attention:

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As for real estate, Collins is carefully watching it. I think if she glances north she might get a sneak preview (actually, I’d be shocked if the same sort of thing is not already playing out in the US, across all sectors of real estate not just commercial, as it is elsewhere in ZIRP-junky lands):

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