Eric Rosengren


Last quote by Eric Rosengren

It is prudent to keep a healthy, ongoing focus on the sufficiency of these tools and their ongoing enhancement.
Mar 22 2017
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Eric Rosengren is associated, including U.S., June, and policy. Most recently, Eric Rosengren has been quoted saying: “Because real estate holdings are widespread, and the monetary and macro-prudential tools for handling valuation concerns are somewhat limited, I believe we must acknowledge that the commercial real estate sector has the potential to amplify whatever problems may emerge when we at some point face an economic downturn. This would require a greater emphasis on macro-prudential tools if valuations became a source of concern.” in the article Hot US real estate a potential red flag: Fed's Rosengren.
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Eric Rosengren quotes

By 2019, I expect the unemployment rate to have declined below 4.5 percent. While I have a long track record of advocating for policy that supports robust labor market conditions, that is below the rate that I believe is sustainable in the long run.

Unemployment this low may well have the desirable effect of bringing more workers into the labor force – but, unfortunately, only temporarily.

I don't think recessions happen because it's been a long time ... but because of policy mistakes. Right now it is hard to see us raising rates too rapidly.

There are also longer-term risks from significantly overshooting the U.S. economy's growth. If we want to ensure that we remain at full employment, gradual tightening is likely to be appropriate.

A reasonable case can be made for continuing to pursue a gradual normalization of monetary policy.

One of the key goals should be that we don't have another recession.

Votes by themselves shouldn't be a reason for altering monetary policy. If we were experiencing significant changes in financial conditions that made us significantly alter the outlook going forward, that would be something that we should take into account.

The reason they should believe this time is different is that the economic conditions are changing over this period.

The reason I am more confident is we are getting better data.

Stock markets globally have improved quite significantly. The data has been coming in better and not only in the United States but in many other parts of the world. Some of the headwinds we thought might be a significant problem as recently as March seem to be a little bit less of a significant problem as we go into June.

If we see no progress on inflation at all, there would be no rush to be raising rates. In order to ease further we'd have to see that we're not getting the forecasts of 2 percent growth at all. We'd probably have to see a situation where we'd be concerned that the unemployment rate would be rising rather than falling ... and a significant weakening in labor markets.

While monetary policy should not overreact to short-term temporary fluctuations in financial markets, policy makers should take seriously the potential downside risk to their economic forecasts and manage those risks as we think about the appropriate path.

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