Economic weakness in the first quarter shows the U.S. isn't ready for an interest-rate increase, said Eric Rosengren, president of the Federal Reserve Bank of Boston.
Rosengren called the March jobs report “disappointing” and said inflation remains “stubbornly below” the central bank's 2 percent target.
“Incoming data would need to improve to fully satisfy the committee's two conditions for starting to raise rates,” Rosengren, who doesn't vote this year on the Fed's policy-making panel, said in the text of a speech Thursday in London.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
