Eric Rosengren, President of the Federal Reserve Bank of Boston, in a statement commenting on the dissenting vote at the meeting of the Federal Open Market Committee (FOMC) argued that additional monetary stimulus was not needed for the US economy.
“Additional monetary stimulus is not needed for an economy where labor markets are already tight, and risks further inflating the prices of risky assets and encouraging households and firms to take on too much leverage,” the statement read.
“While risks clearly exist related to trade and geopolitical concerns, lowering rates to address uncertainty is not costless.”
The US Dollar Index gained traction on this comment and rose above the 98.50 handle. As of writing, the index was up 0.16% on a daily basis at 98.53.
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