The next Fed speaker is speaking.
- There is no need for the Fed to hike if the economy weaken
- Monetary policy remains accommodative
- Consumers still spending
- The more optimistic view will prevail
- Fed can wait for greater clarity
- stock-price decline could portend decline in growth
- he is sensitive to heighten risks that counsel for flexible and patient policy
- he does not expect economic slowdown, market sentiment may have become unduly pessimistic
- expects solid 2019 economic growth to tighten US labor market somewhat
- trade tensions, geopolitical upheaval could change economic forecasts and rate policy
- Fed should be data dependent
- appropriate for now to have no bias toward higher or lower rates
Feds Rosengren is the president of the Boston Fed and is a voting member in 2019.