Banking & Finance

Boston Fed’s Susan Collins Warns Rates May Need to Rise if Inflation Doesn’t Ease

Federal Reserve Bank of Boston President Susan Collins says the Fed may need to raise rates if inflation, running at roughly 3.3% on the Fed’s preferred gauge, doesn’t keep improving.

Published

2 months ago

August 29, 2026

Nathan Strickland

Boston Fed’s Susan Collins Warns Rates May Need to Rise if Inflation Doesn’t Ease

Boston Made, Inc.Office of the Founder & Chairman

From the desk of Nathan StricklandBoston, Massachusetts · August 29, 2026

Dear Sir or Madam,

Federal Reserve Bank of Boston President Susan Collins has a warning for anyone expecting interest rate relief soon: the next move could go the other way.

What Collins said

Speaking in late August, Collins said the Fed “will be appropriate to tighten policy soon” if the data doesn’t show sustained progress on inflation. It’s a notably firmer statement than the “hold steady” posture she and other Fed officials had signaled earlier in the year.

The inflation numbers behind the warning

Collins pointed to core PCE inflation — the Fed’s preferred gauge — running at an estimated 3.3% annually in July, well above the central bank’s 2% target. She noted inflation has now stayed elevated for more than five years, and that price concerns are widespread among businesses and households across New England.

The Fed’s policy rate has been parked in a 3.5%-3.75% range since December, and Collins’ comments suggest growing internal pressure to move if incoming data doesn’t cooperate.

What’s keeping prices elevated

Collins attributed the persistent inflation to a combination of factors: tariffs from federal trade policy, elevated oil prices tied to the conflict involving Iran, and heavy spending tied to AI infrastructure investment nationally. Locally, that national inflation picture lines up with regional data showing Boston-area prices up 3.7% year-over-year, led by a 16% jump in energy costs.

Why it matters for Massachusetts

A rate hike would ripple quickly through a state economy already dealing with a cooling housing market, a pullback in venture funding for the innovation sector, and rising costs for small businesses. Higher borrowing costs would likely make an already-expensive Boston housing market tougher to navigate for both buyers and developers, and could further slow the lab and commercial construction financing that the state’s innovation economy depends on.

What Collins is watching

Her core concern isn’t just current inflation — it’s what happens if inflation stays elevated long enough that households and businesses start expecting it to persist. That kind of shift in expectations, she’s warned, makes inflation meaningfully harder to bring back down. Boston Made’s Economy desk will track upcoming Fed commentary and inflation data releases as the central bank weighs its next move.

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Nathan Strickland

Founder & Chairman of Boston Made, Inc., a Boston-based media and business portfolio company. I lead Boston Made's independent, hyperlocal coverage of Boston's economy, businesses, and neighborhoods, alongside a growing portfolio of Boston-rooted brands — including Boston Made Pets, where my passion for dog wearables and canine wellness lives on. I’m an avid reader and journaler who believes in reporting that's closer to home.

Banking & Finance

The Deal Window Is Wide Open: Why 2026 Could Set Records for IPOs and Mergers, and Why Timing Matters Now

A Masterpass briefing: JPMorgan says dealmaking could hit an all-time record this year. What’s driving it, what could shut the window, and how founders and owners should prepare now.

Published

3 weeks ago

September 23, 2026

Nathan Strickland

Boston Made Newsroom illustration: The Deal Window Is Wide Open: Why 2026 Could Set Records for IPOs and Mergers, and Why Timing Matters Now

Boston Made, Inc.Office of the Founder & Chairman

From the desk of Nathan StricklandBoston, Massachusetts · September 23, 2026

Dear Sir or Madam,

While headlines focus on Iran, oil and Washington, Wall Street’s deal machine is running at one of its fastest paces ever. JPMorgan’s Dorothee Blessing says 2026 could set an all-time record for mergers and IPOs, driven by a year-end rush, Bloomberg reported.

Global deal volume reached about $2.6 trillion in the first half, up roughly 30% from a year earlier. The record is $5.3 trillion, set in 2021.

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Banking & Finance

Heating Bills Are Headed Up 8.7% This Winter, and Heating Oil Up 31%, as War Keeps Energy Prices High

Energy-assistance directors project the average family will pay about $1,030 to heat their home this winter. Here is why, who gets hit hardest, and what to do now.

Published

3 weeks ago

September 23, 2026

Nathan Strickland

Boston Made Newsroom illustration: Heating Bills Are Headed Up 8.7% This Winter, and Heating Oil Up 31%, as War Keeps Energy Prices High

Boston Made, Inc.Office of the Founder & Chairman

From the desk of Nathan StricklandBoston, Massachusetts · September 23, 2026

Dear Sir or Madam,

Americans should expect to pay more to stay warm this winter. The National Energy Assistance Directors Association (NEADA) projects that home heating costs will rise 8.7% across all fuel types, to an average of about $1,030 per household, according to its September 14 forecast. NEADA notes that is more than 2.5 times the rate of inflation.

Families who heat with oil will be hit much harder. NEADA projects they will pay 31.3% more, with average seasonal bills of about $2,300, Quartz reported.

Why: two wars and one oil market

The Iran war is the main driver. Fighting around the Strait of Hormuz, a U.S. oil blockade of Iran and attacks on Gulf energy sites have kept crude near $100 a barrel. Heating oil is refined from crude, so it moves first and furthest.
Russia’s war in Ukraine, now in its fifth year, keeps pressure on global energy. Europe’s turn away from Russian gas since 2022 has tightened world natural-gas markets and pulled more U.S. gas overseas as LNG.
Everything else costs more too. With electricity, food and rent already up, higher heating bills land on budgets that are already stretched.

Average heating bill: about $1,030, up 8.7%. Heating-oil homes: about $2,300, up 31%. (NEADA)

Who gets hit hardest

New England and the rest of the Northeast rely on heating oil far more than the rest of the country, so Boston-area households, landlords and small businesses will feel this first. Older homes, renters in oil-heated buildings, seniors on fixed incomes and restaurants and shops with high heating loads are most exposed.

What to do now, before the cold

Lock in or pre-buy heating oil or propane if your dealer offers a fixed-price or budget plan. Compare at least two dealers.
Get a tune-up. A clean, serviced furnace or boiler burns less fuel.
Seal the leaks: weatherstrip doors and windows, and insulate the attic if you can. Ask your utility about free or discounted energy audits.
Apply for help early. LIHEAP, the federal home-energy assistance program, and state fuel-assistance programs open in the fall and funds can run out. In Massachusetts, apply through your local community action agency.
Call your utility before you fall behind. Payment plans and winter shutoff protections are easier to set up early.

For business owners

Budget for higher heating and energy costs in Q4 and Q1, check whether your leases pass heating costs through, and watch oil: our markets briefing tracks what the Iran talks could do to prices.

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Sources

Banking & Finance

Headline Whiplash: Nasdaq Hits Records as Iran, Oil, Rates and a Cyber Breach Keep Markets on Edge

A Masterpass markets briefing: why tech keeps climbing while the Dow and banks slip, what oil near $100 is telling you, and the catalysts that could whipsaw stocks this week.

Published

3 weeks ago

September 23, 2026

Nathan Strickland

Boston Made Newsroom illustration: Headline Whiplash: Nasdaq Hits Records as Iran, Oil, Rates and a Cyber Breach Keep Markets on Edge

Boston Made, Inc.Office of the Founder & Chairman

From the desk of Nathan StricklandBoston, Massachusetts · September 23, 2026

Dear Sir or Madam,

Wall Street is trading the headlines. On Tuesday, September 22, the Nasdaq Composite posted its second straight record close as oil prices eased, while the Dow finished lower and bank stocks slid, according to Quartz and Yahoo Finance. The S&P 500 was roughly flat.

Under the surface, the moves have been large and fast, and they are driven by geopolitics more than earnings.

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