Fed's Rosengren: Fiscal support needed for low-income individuals, small businesses
In an interview with Yahoo Finance on Thursday, Boston Federal Reserve President Eric Rosengren said that more fiscal support will be needed for low-income individuals, small business as well as state and local governments, as reported by Reuters.
Additional takeaways
"We are pretty far away from maximum employment and there are headwinds to getting there quickly."
"More fiscal support needed for low-income individuals, small businesses and state and local governments."
"We're a long way away from reaching 2% inflation target and not going to raise rates for several years."
"Fed's statement made it clear that the Fed would potentially raise interest rates if there are financial imbalances."
"Some of the concerns people have with corporate leverage and commercial real estate are likely to be headwinds."
Market reaction
These comment's don't seem to be having a significant impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was up 0.17% on the day at 94.52.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
