Fed's Collins: At this stage it's appropriate to be patient

<ul><li>Doesn't think it's helpful to designate a pre-set path</li><li>We may be near a place where we can hold rates</li><li>It's likely that we will need to hold for a substantial period of time</li><li>More Fed rate hikes are possible</li><li>Hasn't seen as much progress as hoped in core-services ex-housing</li><li>Housing is a big challenge for the economy</li><li>Mindful about how an easing in inflation would affect the policy stance</li></ul>

This article was written by Adam Button at www.forexlive.com.