According to CoinMeta, Boston Federal Reserve Chair Collins stated that if future data shows inflation falling less than expected, she might support the Federal Reserve in raising interest rates at its next meeting. She pointed out that if there is no clear evidence of ongoing improvement in inflation, then it might be appropriate to further tighten policy "soon." Collins believes that the July inflation report is generally in line with her assessment; although core inflation was slightly higher than expected, the data is "more encouraging" after excluding some items whose prices are difficult to observe directly. She expects that even without raising interest rates, inflation will gradually cool down.