Fed’s Rosengren: Policymakers can be patient before deciding whether to take more action

In his prepared remarks delivered at the University of Wisconsin-Madison on Friday, Boston Federal Reserve Bank President Eric Rosengren argued that policymakers could be patient before deciding whether to take more action, per Reuters.

“While US  consumers have been resilient to date, continued resilience is not guaranteed. My view is that policymakers can be patient and continue to evaluate incoming data before taking additional action,” Rosengren explained. “My forecast for the economy does not envision additional easing being necessary. However, should risks materialize and economic growth slow materially, to below the potential rate, I would be prepared to support aggressive easing.”  

The US Dollar Index largely ignored these comments and was last down 0.42% on the day at 98.28.