Economic weakness in the first quarter shows the U.S. isn'tready for an interest-rate increase, said Eric Rosengren, presidentof the Federal Reserve Bank of Boston.
Rosengren called the March jobs report “disappointing” and saidinflation remains “stubbornly below” the central bank's 2 percenttarget.
“Incoming data would need to improve to fully satisfy thecommittee's two conditions for starting to raise rates,” Rosengren,who doesn't vote this year on the Fed's policy-making panel, saidin the text of a speech Thursday in London.
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