Boston Federal Reserve (Fed) President Susan Collins said that “inflation is too high and appears to be broadening,” echoing earlier comments by Chicago’s Fed President Austan Goolsbee.

In an interview with Bloomberg TV on Friday, Collins commented that recent inflation data is “less promising than I hope” and that the path of monetary policy is clear. She said that the base-case scenario is for “careful adjustments” to monetary policy and that she doesn’t know how high rates should go.

Key takeaways:

Inflation is too high and appears to be broadening

Recent inflation data less promising than I hope

The future direction of monetary policy is clear

Labor market appears on SOLID footing

I would think some additional policy tightening warranted soon

Direction of policy clear, but pace and destination unclear

Possible the Fed may have to raise more than expected

Best case scenario is ‘careful adjustment’ of monetary policy

I don’t want to say how high or fast rates should move

Many firms expect to pass on higher costs to consumers

Some firms see strong demand and expect to hire more people in key sectors

I’m seeing evidence financial markets stable and functioning well