Rosengren Says Jobless Rate Justifies Continued Fed Easing

Federal Reserve Bank of Boston President Eric Rosengren said the central bank should press on with its bond-buying stimulus as the unemployment rate remains above its goal and inflation is below its objective.

“Consistently missing our inflation target alone would justify a highly accommodative policy,” Rosengren, who votes on U.S. monetary decisions this year, said in a speech prepared for delivery today in Boston. “Coupled with persistently high unemployment, the justification for continuing highly accommodative policy by large-scale asset purchases is clear.”