The US Federal Reserve (Fed) has more work to do to bring inflation down, Federal Reserve Bank of Boston President Susan Collins said on Friday, as reported by Reuters.

"Restoring price stability remains the current imperative and it is clear that there is more work to do,” Collins explained. "I expect this will require additional increases in the federal funds rate, followed by a period of holding rates at a sufficiently restrictive level for some time."

Market reaction

These comments failed to trigger a noticeable market reaction and the US Dollar Index was last seen losing 0.06% on the day at 106.63.