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Fed's Rosengren says interest-rate cut not needed



Bloomberg News / Landov

Boston Fed President Eric Rosengren is a voting member of the Fed's interest rate committee this year.

Boston Fed President Eric Rosengren on Friday said he doesn't think in interest rate cut

"Most of the news that we've been getting pretty good," Rosengren said, in an interview on CNBC.

Rosengren said if he was on the bank of Japan or the European Central Bank, would be seriously thinking about taking additional easing steps.

“The US economy is not at that point. The economy is actually quite reasonable at this stage, ”he said.

"I don't want to be able to do the economy is perfectly well without that easing," he added

Rosengren is the last Fed official to speak publicly before the central bank goes silent to prepare for its meeting. 1

9659004] 100% chance of a quarter-point rate cut at the Fed's meeting next July 30-31. New York Fed President John Williams retired when the New York Fed walked back his remarks.

Read: Trump piles on Fed after Williams slip-up

Some things might creep into the market next week as Rosengren is a voting member on the Fed's interest-rate committee this year.

The Boston Fed president said the flatter yield curve was not an important signal or an economy poised for trouble.

He said the yield on the 10-year Treasury

                            
                            
                                  
      
      
      
      
      
      
      
                                  
                                    TMUBMUSD10Y, + 1.66% had fallen primarily because of weakness in U.S. Pat. trading partners

Rosengren said he won his mind interest rate policy until after the second quarter GDP data comes out next Friday. He said he expected growth in the neighborhood of 2% and a "pretty good" core inflation print that was close to 2%.

He said he did not support a rate cut unless the data is showing some slowdown. [19659004] Some Fed officials are talking about an insurance cut.

But Rosengren points out that insurance always comes with a price. In this case, it would risk financial stability.

Rosengren said he agreed with the general view that the Fed must act aggressively once it is clear the economy is going into a downturn.

But he said that is not "where we are now."

                            
                            
                                  
      
      
      
      
      
      
      
                                  
                                     DJIA, -0.25%

is at all-time highs, he noted.


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