Boston Fed president wants low rates well into future


The Federal Reserve should not raise its short-term interest rates until "there is much more progress" towards achieving full employment and returning inflation to its 2% target, according to the Federal Reserve Bank of Boston president Eric Rosengren.

Rosengren told an audience at the University of Massachusetts that the US recovery has been "tepid" to date and will remain "modest" even once the global economy picks up and the government's fiscal policy improves.

Even then, he warned, any

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