Boston Fed President Susan Collins said Saturday that modest, gradual rate hikes are best suited to address economic uncertainty. Collins said additional shocks and the stronger tightening effects that could result from rising market rates mean it is not appropriate to accelerate the pace of rate hikes for now. However, Collins said recent inflation and labor market data suggest the policy rate could be slightly higher over the next year than she expected several months ago. Markets broadly expect the Fed to raise its current target range of 3.75% to 4% by 25 basis points in December and hike again in January.