President, Federal Reserve Bank of Boston
2026 non-voter 2027 non-voter
| Institution | Federal Reserve Bank of Boston (District 1) |
|---|---|
| Current role since | July 1, 2022 |
| Term ends | — |
| Official page | www.bostonfed.org |
| On X | @BostonFed |
Bank page gives July 2022 (month only; day shown here is a placeholder). Boston is a 2027 alternate and votes in 2028.
| Meeting | Decision | Vote | Preference |
|---|---|---|---|
| December 10, 2025 | cut 3.50–3.75% | With majority | |
| October 29, 2025 | cut 3.75–4.00% | With majority | |
| September 17, 2025 | cut 4.00–4.25% | With majority | |
| July 30, 2025 | hold 4.25–4.50% | With majority | |
| June 18, 2025 | hold 4.25–4.50% | With majority | |
| May 7, 2025 | hold 4.25–4.50% | With majority | |
| March 19, 2025 | hold 4.25–4.50% | With majority | |
| January 29, 2025 | hold 4.25–4.50% | With majority | |
| December 14, 2022 | hike 4.25–4.50% | With majority | |
| November 2, 2022 | hike 3.75–4.00% | With majority | |
| September 21, 2022 | hike 3.00–3.25% | With majority | |
| July 27, 2022 | hike 2.25–2.50% | With majority |
Source: FOMC statements, federalreserve.gov. From June 2026 the statements name only dissenters; majorities are inferred from the voting roster.
October 13, 2026 SpeechHawkish
With elevated risks of persistently high inflation, but more limited downside risks to the real economy and labor market, I believe it is appropriate for the Federal Open Market Committee (the FOMC) to focus on the inflation side of the Fed's dual mandate. Therefore, I supported last month's FOMC decision to raise the federal funds rate by 25 basis points.
October 9, 2026 Speech
One important contribution was to explore (with Simon Gilchrist) the links between asset prices and monetary policy, considering questions of great relevance for policymakers – such as whether and how monetary policy should react to shocks that impact financial markets.
August 25, 2026 Speech
But with inflation still too high, I remain particularly concerned about the price stability portion of the dual mandate.
May 13, 2026 SpeechDovish
Given this outlook and the balance of risks, I believe it will likely be important to maintain the current slightly restrictive monetary policy stance for some time. More than five years of above- target inflation has reduced my patience for "looking through" another supply shock.
March 6, 2026 SpeechDovish
This, combined with recent evidence suggesting a relatively stable labor market, in my view argues for maintaining policy rates at their current, mildly restrictive levels for some time. I do not see an urgency for additional policy adjustments, and I will be looking for clear evidence that inflation is moving durably toward the 2 percent target – something that might occur only over the second half of the year.
February 24, 2026 Speech
Understanding these dynamics helps inform how we think about the Fed's dual mandate of maximum employment and price stability. And it relates directly to the Boston Fed's overarching mission – a vibrant economy that works for everyone.
January 16, 2026 Speech
While I won't be addressing the economy or monetary policy in these brief comments, I'll offer my standard disclaimer – that my remarks reflect my own views, not necessarily those of my colleagues at the other Reserve Banks or the Board of Governors.
November 21, 2025 Speech
And since this is a Federal Reserve conference, I'll briefly outline some implications of these issues for the conduct of monetary policy, over the medium term.
November 12, 2025 SpeechDovish
Looking ahead, Collins has "a relatively high bar for additional easing in the near term," as "providing additional monetary support to economic activity runs the risk of slowing – or possibly even stalling – the return of inflation to target." She says, "absent evidence of a notable labor-market deterioration, I would be hesitant to ease policy further … it seems prudent to ensure that inflation is durably on a trajectory back to 2 percent before making any further adjustments to our policy stance." 5.
October 14, 2025 SpeechDovish
I see continued growth in activity, little further rise in the unemployment rate, and inflation remaining elevated this year and into early 2026 as tariffs are passed through more fully, before resuming its decline. But
September 30, 2025 Speech
But I continue to see a modestly restrictive policy stance as appropriate, as monetary policymakers work to restore price stability while limiting the risks of further labor market weakening.
July 15, 2025 SpeechDovish
Thus, in my view, an "actively patient" approach to monetary policy remains appropriate at this time.
June 25, 2025 SpeechDovish
Focusing on the Fed's congressionally mandated goals of price stability and maximum employment, I see monetary policy as currently well positioned, and I supported last week's FOMC decision to maintain the target range for the federal funds rate at 4¼ to 4½ percent.
June 24, 2025 SpeechHawkish
Most importantly for monetary policy, the housing market is very sensitive to interest rate changes, making it an important policy transmission channel.4 When the Federal Reserve adjusts interest rates, housing typically responds first – and tends to spread the effects of monetary policy throughout the economy.
May 20, 2025 Speech
And it informs the Fed's approach to monetary policy and how we achieve our dual mandate: price stability and maximum employment.
April 10, 2025 SpeechDovish
So, having short-term inflation expectations increase in that context is not surprising, but really watching whether the longer run inflation expectations remain anchored, I think is very important in terms of how I think of appropriate policy responses going forward.
January 9, 2025 SpeechDovish
And with inflation heading back to target, a key goal for policy became preserving those healthy labor market conditions while continuing to bring inflation down and I continue to monitor a range of indicators, including labor market indicators, closely. But my concerns about emerging labor market fragilities have decreased more recently, as the unemployment rate stabilized after rising notably in the first half of 2024.