WASHINGTON (MarketWatch) – Eric Rosengren, the president of the Boston Fed, who has been dovish over the years, is sounding open to a December rate hike. In a speech in Rhode Island, Rosengren, a voter in 2016, said a December rate hike could be appropriate as long as the economy continues to improve, as he expects. Rosengren said waiting longer to begin rate hikes potentially risks having to move rates more rapidly. “I prefer a path that involves only gradual increases in interest rates and that essentially probes how tight labor markets can be, consistent with our 2% inflation target,” he said
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News