Rosengren on tv via Bloomers

  • Supports Sep FOMC decision to wait
  • Raising rates in 2015 is still a reasonable forecast
  • There's not much data since Aug that shows any problems
  • If the data stays steady it would be appropriate to start hiking this year
  • Commodity and oil prices are having a temporary effect on inflation
  • Inflation data is unlikely to show strong gains
  • Labour markets are a key component of hitting inflation target
  • Many of the US's trading partners are weak right now
  • Domestically the data and consumption has been strong
  • Manufacturing is consistent with trade data

Rosengren was right at the top of the dovish scale but has turned more hawkish over the last few years. He's not a voter until next year