Fed Dissenter Rosengren Saw No ‘Compelling Case’ for Rate Cut

Federal Reserve Bank of Boston President Eric Rosengren said the case for cutting interest rates had not been “compelling,” as he spelled out his reasons for dissenting against his colleagues at the July 30-31 meeting.

“I do not see a clear and compelling case for additional monetary accommodation at this time,” he said in a statement Friday that listed low unemployment, inflation likely to rise toward the Fed’s 2% target, and financial stability concerns “given near-record equity prices and corporate leverage.”