In an interview with CNBC on Friday, Eric Rosengren, president and CEO of the Federal Reserve Bank of Boston, noted that the United States has a very low unemployment rate. “We are getting about the kind of employment growth that would expect in a stable economy,” Rosengren added.
“When labour markets are tight, we would expect wages and prices to go up over time,” Rosengren said. “The overall view of the US economic growth will be at around 1.7% for the 3rd and 4th quarters of 2019.”
Regarding the policy outlook, Rosengren said that the monetary policy is currently accommodative and stated that he has an open mind with regards to further rate cuts.
The US Dollar Index didn’t show a significant reaction to these comments and it was last down 0.05% on the day at 98.86.
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