Fed’s Rosengren: With inflation subdued, monetary policy should be focused on employment
- Decline in spread between mortgage, treasury yield after Fed’s operation twist “very significant”
- Fed should consider taking action if spreads between mortgage, treasury yields widen significantly
- Important to examine housing policies that might be changed to reduce impediments to monetary policy
- Housing sector woes impairing recovery
Guess we can place Mr Rosengren in the dove camp.