August 19, 2019 / 6:16 PM / a month ago

Fed's Rosengren says cutting rates could worsen next downturn -Bloomberg

NEW YORK, Aug 19 (Reuters) - Boston Federal Reserve Bank President Eric Rosengren on Monday said U.S. economic conditions are still good and that lowering interest rates could encourage a worrying buildup in debt.

“The lower interest rates are, the more you’re encouraging people to take on more debt. And is this the right stage in the cycle for us to encourage people to be taking on more debt?” he said in an interview broadcast on Bloomberg Television, adding that doing so could worsen the next downturn.

Rosengren was one of two dissenting votes at the U.S. central bank on its decision last month to cut borrowing costs for the first time since 2008. (Reporting by Trevor Hunnicutt)

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