By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of Boston President Susan Collins said Wednesday she is expecting the central bank to cut interest rates later this year. "While I continue to expect it will be appropriate to resume gradual policy normalization later this year,

The Fed chair told lawmakers that the central bank could afford to be patient amid uncertainty about how President Trump’s policies would affect the economy, even as divisions between officials emerged.

Several top Fed officials have voiced support for cutting interest rates in the week after the central bank's latest policy decision.