Wall Street Journal (02/26/14) Michael S. Derby
Federal Reserve Bank of Boston president Eric Rosengren has called for a continuation of the central bank’s aggressive stimulus, due to continuing labor market weakness and uncertainty over the role of inclement weather on the economy in recent months. Even though bond-buying continues to be reduced, short-term interest rates likely will remain pegged near zero until some time in 2015. When the jobless rate reaches the bank’s 6.5% threshold for consideration of rate increases, Rosengren believes significant slack still will exist, and that the threshold rate should be 5.25%.
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