“No one statistic can adequately characterize the labor market, since aggregate numbers do not show the wide range of experiences across people, sectors and places,” Susan Collins said.
Boston Federal Reserve President and CEO Susan M. Collins is expecting interest rates to remain at restrictive levels, hinting that the Fed may have to further increase key rates, depending on economic data to come.
The Federal Reserve kept its benchmark interest rate at a record low near zero Thursday and signaled its readiness to do more if needed to support an economy under threat from a worsening coronavirus pandemic.
Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy.
The Federal Reserve has promised to use its “full range of tools” to pull the country out of a deep recession caused by a global pandemic, signaling that it would keep interest rates low through 2022.
Testifying to Congress this month, Federal Reserve Chair Jerome Powell sent a message seldom heard from his predecessors: That the Fed should consider the struggles of the lowest-income Americans in setting its interest-rate policies.
The current economic expansion, now entering its ninth year, is forecast to continue with full-year growth at 2 percent for 2017, according to the Fannie Mae Economic & Strategic Research (ESR) Group’s June 2017 Economic and Housing Outlook.
The economy has made “remarkable progress” in the past few years and normalization of monetary policy may be appropriate, Boston Fed President Eric Rosengren said today before the Connecticut Business and Industry Association (CBIA) today in Hartford.
