July 19, 2019 / 9:06 PM / a month ago

Fed's Rosengren U.S. economy 'reasonable,' no need to cut rates

(Reuters) - Boston Federal Reserve Bank President Eric Rosengren on Friday came out strongly against a U.S. interest rate reduction, saying that with stocks at near-record highs and an unemployment rate near a 50-year low, the economy does not need it.

“It makes sense that if I was in Japan or if I was at the ECB (European Central Bank) that I would seriously be thinking about easing,” Rosengren said in an interview with CNBC. “The U.S. economy is not at that point, the economy is actually quite reasonable at this stage. So, if that were to change, I’d be happy to ease that point. But I don’t want to ease if the economy is doing perfectly well without that easing.”

Reporting by Kanishka Singh in Bengaluru; writing by Ann Saphir; Editing by Leslie Adler

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