Recent labor market and inflation data highlight the need for the U.S. central bank to be patient about monetary policy, and has reduced the “urgency” to cut interest rates, Boston Federal Reserve President Susan Collins said Thursday.

“Overall, the recent data have not materially changed my outlook, but they do highlight uncertainties related to timing, and the need for patience,” Collins said, in a speech to the Economic Club of New York. 

READ MORE: Fed’s Collins: Recent data ‘reduces the urgency to ease’