FED Collins: 75bp hike is still on the table

FED Collins shared relatively hawkish comments with the market:

• Inflation expectations are reasonably well anchored

• 75 bp rate hike remain on table

• Recent data has increased the top range or where I think rates need to get to. More data will help to form opinion of terminal rate

• Service sector inflation is still very high

• Not seeing clear and consistent evidence of softening of labor markets

• There's a risk that as we raise rates, we may go too far

• Reasonably optimistic that we can avoid recession

• Earlier she emphasized that the US central bank most likely will have to raise interest rates even more and expects a modest rise in unemployment.

US100 erased early gains and pulled back towards major support at the 11700 pts area. Source: xStation5