Boston Fed President Eric Rosengren said Fed is still a “long way from raising rates” and the central bank hopes to keep both short- and long-term borrowing costs “quite accommodative. The US will be in a situation “where the economy is growing more slowly than we might have hoped a few months ago”.
Rosengren noted that “some of the better economic data we’ve been getting has reflected the fact that those places are opening up, but they may not be opening up as safely as they need to.” He’s concerned that positive headline may mask the underlying health implications of re-opening.
