[Federal Reserve's Collins: Rate Hikes Will Help Inflation Return to Target] Odaily Planet Daily News – Boston Federal Reserve President Collins stated that she supports the Fed's decision to raise interest rates last week, saying that this move will help drive inflation back to the central bank's 2% target level. Collins wrote: 'Moderately increasing the federal funds rate will help ensure inflation persistently returns to the target level. As labor market conditions improve, monetary policy can focus on promptly restoring price stability—especially after experiencing five and a half years of high inflation.' Collins does not have voting rights in monetary policy decisions this year. She noted that the likelihood of inflation rates remaining 'significantly above 2%' has 'increased.' (Jin10)