Susan Collins, President of the Boston Federal Reserve Bank, stated that there is a "considerable amount of uncertainty" regarding the economic outlook faced by Federal Reserve officials, thus providing reason to slow down the pace of interest rate adjustments. In a speech prepared for an event in Boston on Thursday, Collins mentioned that the economy is in a "good state," but noted that this year's progress in reducing inflation may be slower than previously expected. She indicated that the incoming Trump administration and the new Congress's new economic policies may also alter the trajectory of the economy, although it is too early to accurately estimate their impact. Collins said: The Fed's "policy can be adjusted according to changing circumstances - if inflation shows little progress, then policy will be maintained at current levels for a longer time, and if necessary, loosen policy in advance."