Rosengren Calls for QE3 Until Unemployment Falls to 7.25%
This article is for subscribers only.
Federal Reserve Bank of Boston President Eric Rosengren said the Fed should buy mortgage bonds until the jobless rate falls to 7.25 percent and hold the target interest rate near zero until hitting 6.5 percent unemployment.
“As long as inflation and inflation expectations are expected to remain well-behaved in the medium term, we should continue to forcefully pursue asset purchases,” Rosengren said today in a speech in Wellesley, Massachusetts.