Boston Fed president compares forthcoming rate hikes with past tightening cycles
Rosengren: this tightening cycle likely to differ from those of 1994 and 2004
Federal Reserve Bank of Boston president Eric Rosengren argued the forthcoming tightening cycle in US monetary policy is "likely to differ" from previous episodes, in a speech on September 1.
Addressing the Forecasters Club of New York, he observed inflation is lower and real GDP growth slower than tightening cycles in 1994 and 2004 respectively. Both Fed officials and market participants expect a more gradual pace of rate increases this time round, and a lower federal funds rate at the end of
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