Boston Fed Rosengren speaking

Boston Fed's Rosengren is speaking in a virtual that and says:

  • There are headwinds ahead for the US economy
  • We are long way away from reaching the 2% inflation target
  • The Fed will not raise rates for several years
  • The Fed would potentially raise interest rates if there are financial imbalances.

Yesterday Rosengren mirrored this comment saying he was

  • Less optimistic than his colleagues about the US economy
  • That the US could face a credit crunch by year-end if the virus worsens
  • That the economy is more fragile than the data suggests