- June jobs report “dismal”
- Fiscal austerity slowing economies in US and abroad
- No significant wage pressure, commodity prices stabilized, gives Fed policy leeway
- Housing, gov spending likely to continue to be unusually weak for a recovery
- Expects growth in H2 to average 3-3.5%
Rosengren is among the most dovish members of the FOMC. He is not a voter this year on the committee.
