Fed's Rosengren: Markets are 'unduly pessimistic'

Economy | Politics 1/9/2019, 6:12 PM
Fed's Rosengren: Markets are 'unduly pessimistic'

President of the Federal Reserve Bank of Boston and a voting member of the Federal Open Market Committee (FOMC) Eric Rosengren said on Wednesday that markets may have become "unduly pessimistic" in regards to the possible economic slowdown in the United States.

He stressed that economic indicators, such as employment, wage growth, consumer confidence and savings rates, still remain strong.

Largely in line with the remarks by Chicago Fed President Charles Evans, Rosengren explained that monetary policy will "wait for greater clarity" before adjustments, so that a line of risks can be factored in, including a possible economic slowdown or a higher-than-expected GDP growth, as well as trade tensions.

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