Fed's Rosengren on CNBC: Biden's $1.9 trillion package was big but appropriate

Author: Greg Michalowski | Category: Central Banks

Rosengren is a nonvoter in 2021

  • Bidens $1.9 trillion package was big but appropriate
  • we need expansionary fiscal policy to 8 economy
  • expects that as we get closer to full employment will have tighter fiscal policy
  • we need to do more to support the economy
  • we are pretty far from the time
  • mix on fiscal and monetary policy right now is appropriate
  • we have wrong pandemic policy. Too many people infected and we are to slow to vaccinate
  • Economy is being driven by public health concerns
  • Won't get full recovery until people feel safe
  • next 6 months expects slower growth because of challenges in inoculating
  • expects a very strong 2nd half of the year
  • housing market is partly strong because Fed is buying MBS
  • Fed is not particular focused on any one yield
  • higher yields are not enough to change the Fed course

Comments are consistent with Fed's Powell who said that policy would not change anytime soon.
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