Rosengren Seeks Signs of Growth Citing Inaccurate Forecasts

Federal Reserve Bank of Boston President Eric Rosengren, the lone dissenter from the Fed’s plan this week to taper its bond purchases, said policy makers should have waited for more evidence of economic strength rather than rely on forecasts that have too often been wrong.

“We should be humble about our forecasting capabilities,” Rosengren said today in an interview with Bloomberg News. “We should see it more strongly in the data before we act,” he said, adding he wants more evidence the economy would grow 3 percent next year.