Boston Fed President Not Keen on Fed’s Latest Rate Cut

Boston Fed President Eric Rosengren expressed his disagreement with the Fed's decision. Rosengren maintained that the US economy was healthy

Written by: Arslan Butt • Tuesday, November 12, 2019 • 1 min read

• Last updated: Tuesday, November 12, 2019

Speaking a few days after the Federal Reserve cut interest rates for the third time this year, Boston Fed President Eric Rosengren expressed his disagreement with the Fed’s decision. Rosengren maintained that the US economy was healthy and that the GDP was expected to “be growing around potential”.

Rosengren made these comments while speaking to Reuters on the sidelines of a conference in Oslo where he had delivered a speech. However, he did not comment when asked about his stance to keep interest rates on hold at the Fed’s next policy meeting in December.

The prolonged trade tensions between the US and China, weakening inflation and an overall slowdown in global economic growth had prompted the Fed to turn dovish in the recent few months and cut interest rates by 0.25% thrice this year. Policymakers have termed these moves as “mid-cycle adjustment” after the Fed’s hawkish stance through 2018.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.