Fed CEO not blaming economy on weather

The Federal Reserve Bank of Boston head said last week that he doesn’t necessarily support claims that the region’s slower-than-expected economic growth this year can be attributed to a harsh winter.

The Boston Business Journal reported last week that Boston Fed President and CEO Eric Rosengren said that economic data has been subpar not only during the worst of the winter months, but beforehand and afterward, too.

It appears unlikely that the Fed will raise short-term rates in the near term, as it has not seen the necessary employment and inflation trends, Rosengren said. Most economists expect a stronger second half of 2015, but he noted the improvement is only forecasted, and has not been borne out in the data.

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