Federal Reserve Bank of Boston President Susan Collins said Thursday that significant uncertainty over the outlook calls for the central bank moving forward cautiously with future rate cuts.

Federal Reserve Bank of Boston President Susan Collins said a slower approach to adjusting interest rates is merited now as officials confront “considerable uncertainty” over the US economic outlook.

Collins, in prepared remarks for an event Thursday in Boston, said the economy was in a “good place,” but noted that progress on cooling inflation will likely be slower this year than previously anticipated.

Federal Reserve Bank of Boston President Susan Collins described a healthy U.S. economy at present but with a wide range of plausible paths from here. She’s in favor of slow and gradual interest-rate cuts in 2025.

Federal Reserve Bank of Boston President Susan Collins said she favors fewer rate cuts in 2025 than she had anticipated just a few months ago, following strong employment data and lingering inflation.