Boston Fed bank president says no to further rate cuts

  • 📰 thenewpaper
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 22%
  • Publisher: 63%

Boston Federal Reserve Bank president Eric Rosengren on Monday signalled no willingness to support further interest rate cuts, saying that easing policy could encourage a worrying debt build-up. 'It is a bigger risk to encourage people to take on too much more risk at this...

Singapore Headlines News

Singapore Latest News, Singapore Headlines

Boston Federal Reserve Bank president Eric Rosengren on Monday signalled no willingness to support further interest rate cuts, saying that easing policy could encourage a worrying debt build-up.

"It is a bigger risk to encourage people to take on too much more risk at this time," he said, adding that doing so could worsen the next downturn and leave the Fed with little ammunition to encourage additional spending when it is needed. "Global conditions are weak. So I'm not saying there aren't circumstances in which I would be willing to ease. I just want to see evidence that we are actually going into something that's more of a slowdown."

Mr Rosengren was one of two dissenting votes at the US central bank on its decision last month to cut borrowing costs for the first time since 2008.Markets overwhelmingly expect the Fed to cut rates again at its Sept 17 to 18 policy meeting from the current 2 per cent to 2.25 per cent target. Meanwhile, Fed chairman Jerome Powell is slated to deliver a closely watched speech on Friday, where he is likely to weigh in on policy and economic outlook.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Caution grips Asian shares as Fed events loom largeAsian shares fell on Wednesday as fresh worries about a global recession led investors to dump risky assets, with U.S. President Donald Trump ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Futures gain on upbeat Target, Lowe's earnings; Fed minutes eyedU.S. stock index futures rose on Wednesday as upbeat earnings reports from retailers Lowe's and Target reflected robust consumer demand, helping ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

It's the Fed, but the world will have its sayThe U.S. Federal Reserve has a purely domestic mandate, answerable to an elected Congress and facing nearly daily demands from an outspoken president.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asian shares fall on recession fears; eyes on Fed minutesAsian shares fell on Wednesday as fresh worries about a global recession led investors to dump risky assets, with U.S. President Donald Trump ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US stocks rally on hopes for stimulus, dovish FedNEW YORK: Wall Street stocks rose for a third straight session on Monday (Aug 19), joining a global rally amid talk of economic stimulus in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Trump heaps pressure on Fed and its chairman Powell to cut ratesPresident Donald Trump on Wednesday continued to pressure the Federal Reserve and the central bank's chairman to lower interest rates, saying its ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »