Boston Fed president optimistic about New Hampshire's economy

Susan Collins, the president of the Federal Reserve Bank of Boston, visited New Hampshire on Tuesday and shared her positive outlook on the state's economy. She spoke with local business owners during her trip. Collins highlighted the low unemployment rate and the growth of technology in Manchester as encouraging signs. However, she also pointed out challenges, particularly a labor shortage that businesses are facing. To attract more workers, affordable housing is essential. This issue is a major concern for both employers and local residents. Collins mentioned that recent cuts by the Federal Reserve have lowered mortgage rates. This has led to an increase in people applying for and being approved for loans. Nonetheless, she noted that the high cost and limited availability of housing remain significant problems in New Hampshire. Additionally, Collins addressed concerns about tariffs and a possible trade war. She believes that the inflation impact from tariffs might be short-lived if they do not escalate further. However, the uncertainty surrounding these policies makes it difficult to predict their long-term effects on interest rates.