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Journal Article
Gasoline Prices Unlikely to Bring Down Inflation in 2023
Gasoline prices can influence inflation both directly (by changing prices at the pump) and indirectly (by shaping consumers’ inflation expectations). Through these channels, gasoline prices have played an important role in the run-up and recent decline in inflation. Although gasoline prices have declined from their all-time highs, they are expected to remain relatively stable in 2023. As a result, gasoline prices are unlikely to deliver further reductions in either inflation or inflation expectations this year.
Journal Article
The KC Fed LMCI Momentum Indicator Suggests Monetary Policy Is Beginning to Weigh on Labor Markets
The Federal Open Market Committee has been quickly raising the federal funds rate to lower inflation. However, services inflation remains high, supported by a tight labor market with high wage growth. Recent readings in the LMCI momentum indicator suggest monetary policy tightening is beginning to weigh on labor markets, which may eventually lead to lower services inflation and lower inflation overall.
Speech
Observations on the Economic Outlook, and Small Businesses: Remarks at Outlook 2026, hosted by the Springfield Regional Chamber of Commerce
Federal Reserve Bank of Boston President & CEO Susan M. Collins delivered remarks on the economic outlook and small business conditions at Outlook 2026, hosted by the Springfield Regional Chamber of Commerce in Springfield, Massachusetts. She discussed economic conditions, highlighted the challenges and opportunities facing small businesses, and emphasized the value of the Federal Reserve’s federated structure.
Speech
“The U.S. Economy: Resilience Amid Risks and Uncertainty”: Remarks at the Boston Economic Club
Federal Reserve Bank of Boston President & CEO Susan M. Collins delivered remarks and participated in a fireside chat at an event hosted by the Boston Economic Club. She shared her economic outlook, emphasizing the challenges for price stability amid ongoing risks, uncertainty, and supply-side shocks. She affirmed that monetary policy is well positioned to respond to economic developments.
Report
Reassessing the U.S. Economy’s Vulnerability to Oil Shocks
The impact of today’s oil price shocks may differ markedly from those of shocks in the 1970s. As noted in the minutes of the April 28–29, 2026, Federal Open Market Committee meeting, two structural changes to the U.S. economy could cushion the impact: the substantial increase in domestic oil production and the declining share of spending devoted to energy. This brief examines empirical evidence on how these transformations have altered the U.S. economy’s vulnerability to oil shocks.
Speech
Perspectives on the Economy and Financial Landscape
Federal Reserve Bank of Boston President & CEO Susan M. Collins shared perspectives on the economy and monetary policy, regional banking conditions, and payments innovation during the Boston Fed’s 24th Annual Regional & Community Bankers Conference. She also participated in a Q&A discussion following her remarks.