Fed's Collins Says Data Have Impacted View of Rate Peak

The transcript discusses the disappointment in recent data and how it has broadened the speaker's view on interest rates. The speaker emphasizes the need to assess data at each decision point and notes that their views have evolved since September. The upcoming summary of economic projections will provide further insights. The speaker acknowledges that some data has been disappointing but also sees signs of improvement. Financial markets have reacted to higher interest rates, particularly in housing, and the economy is adjusting to restrictive rates.

What is the significance of the upcoming summary of economic projections in December?

What does the speaker mean by 'rates are in restrictive territory'?