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- Fed’s Rosengren says tight labor market bolsters plans to keep raising rates
Fed’s Rosengren says tight labor market bolsters plans to keep raising rates
Federal Reserve Bank of Boston President Eric Rosengren said in an interview to WSJ Wednesday that increasingly tight labor markets should keep the U.S. regulator on its path to gradually raise rates and start slowly shrinking its balance sheet, despite an unexpected weakness in inflation pressures seen this spring. At the same time, Mr. Rosengren noted that he saw "some reasonable risk" that the unemployment rate could drop below 4 percent in the next two years. While the Fed's preferred inflation indicator had shown price pressures had eased since March, Mr. Rosengren said he was more focused on longer-run trends in labor markets, which argued for continued rate hikes, than on monthly inflation data.
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