In remarks prepared for delivery at the Economic Club of New York on Thursday, Collins said that economic activity has remained robust, despite the Fed’s high interest rate of 5.25% to 5.50%. While the recent strength, particularly in the labor market, has been good for everyday Americans, Collins said it raises questions about the true restrictiveness of the Fed’s current policy stance and how it is affecting financial conditions.

READ MORE: Fewer Rate Cuts May Be Needed, Boston Fed President Says