According to CoinMeta, and as reported by the Financial Times, Federal Reserve official Collins stated that due to the intensification of the war in Iran increasing the pressure on living costs, the poor population in the United States is struggling to make ends meet. She warned that the Federal Reserve may need to raise interest rates to curb inflation. Collins pointed out that businesses and families in the northeastern United States are being squeezed by inflation, with the inflation rate exceeding the central bank's 2% target for over five years. She mentioned that many middle- and low-income families are facing challenges in maintaining their livelihoods, especially with energy prices being unaffordable. Although Collins does not have voting rights within FOMC, she supported keeping interest rates unchanged in July and believes that the current interest rate level is "slightly tightening." She said that if economic data indicates the need for a rate hike, she would be willing to support such a move as early as September.