Rosengren Says Pre-Pandemic Low Rates Worsened Current Downturn

Federal Reserve Bank of Boston President Eric Rosengren said the long period of low interest rates before the coronavirus pandemic is contributing to the depth of the current recession.

“The slow build-up of risk in the low-interest-rate environment that preceded the current recession likely will make the economic recovery from the pandemic more difficult,” Rosengren said in the text of a speech he’ll deliver Thursday at an online event hosted by Marquette University.