By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of Boston President Susan Collins said Thursday that large trade tariffs now being pursued by the Trump administration will almost certainly drive inflation higher and depress growth,

Federal Reserve Bank of Boston President Susan Collins said the central bank may yet lower interest rates later this year, but tariff-driven inflation could delay further cuts.

Some policymakers at last month’s meeting warned of difficult trade-offs that loom if inflation rises and hiring deteriorates.