"If people are reluctant to get vaccinated and there are still many infections that could make some people reluctant to get back to work," Boston Federal Reserve President Eric Rosengren said on Wednesday, as reported by Reuters.
Additional takeaways
"We shouldn't overreact at temporary price movements that are expected."
"Unemployment rate may be in the range of full employment by the end of next year."
"This is going to be an unusual recovery in how rapidly we're growing."
"Will need to pay close attention to be sure inflation dynamics don't change."
"Fed has the tools to react if inflation does become problematic."
"It's premature right now to focus on tapering purchases."
"Time for tapering will come and the Fed has no interest in surprising markets."
"Fed will need to think about what speed to taper treasuries vs mortgage-backed market."
"Would be concerned if housing prices started rising too quickly."
"Fast-rising housing prices would be a financial stability concern."
"Problem that caused run on money market funds last year has not been corrected yet."
"There's an open question about what happens to commercial real estate and how many people come back to work."
Market reaction
The US Dollar Index clings to modest daily gains above 91.30 after these remarks.
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