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    Home » Fed’s Eric Rosengren Backs Tapering in the Fall, Subject to Another Monthly Job Gains
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    Fed’s Eric Rosengren Backs Tapering in the Fall, Subject to Another Monthly Job Gains

    August 17, 20211 Min Read
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    Boston Federal Reserve Bank President Eric Rosengren stated Monday that one additional month of strong job gains could fulfill the U.S. central bank’s requirements to reduce monthly asset purchases.

    • Rosengren further stated the U.S. economy had two consecutive months where it created over 900,000 jobs, and the unemployment rate declined to 5.4%.
    • Another strong labor market report would be supportive of announcing in September that the economy is ready for the start of the taper program.
    • The US Fed in December emphasized on the decision to continue purchasing assets at the current pace of $120 billion a month until they achieve significant progress towards the central bank goals.
    • Rosengren believed the standard was already fulfilled for inflation that is running slightly above the Fed’s 2% target.

    The central bank policymaker repeated his view that he would support the reduction of purchases of mortgage-backed securities and Treasury securities by equal amounts.

    DXY up +0.08%, EUR USD down -0.02%.Source: Reuters

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