[Federal Reserve's Collins: Will Support Rate Hike in September if Inflation Remains Elevated] BlockBeats News, August 12, according to the Financial Times, Federal Reserve's Collins stated that due to the Iran war exacerbating cost-of-living pressures, low-income Americans are struggling to make ends meet. She warned that the Federal Reserve might need to raise interest rates to curb inflation. Collins noted that businesses and households in the northeastern United States are being squeezed by inflation, which has exceeded the central bank's 2% target for more than five years. She pointed out: 'Almost every time I talk to businesses, I hear about issues related to (prices).' She added: 'Among middle- and low-income households, I increasingly hear about the challenges they face... such as struggling to make ends meet. Energy prices are indeed unbearable, especially in our region.' Collins currently does not have voting rights in the FOMC. She supported keeping rates unchanged in July and believes the current rate level is 'slightly restrictive' and 'will allow inflation to gradually and sustainably decline as expected.' However, she stated that if economic data indicates the need for a rate hike, she is willing to support a rate increase as early as September. She said: 'I do think that economic conditions in the coming months may require tighter policy, and in that case, I am prepared to raise rates.'