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Boston Fed Chief Says Economy Still Needs Help From Central Bank

Hartford Courant (Connecticut) (01/07/14) Mara Lee

Eric Rosengren, president and chief executive officer of the Boston Federal Reserve Bank, says the slow pace of job growth is causing people to give up on getting hired. Rosengren points out that the longer a person is unemployed, the less likely he or she is to find employment. Rosengren was the only member of the Federal Reserve Board to oppose the recent slowdown in the Fed’s stimulus plan. However, he believes both job growth and gross domestic product will be stronger in 2014.