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Fed's Rosengren sees no pressing need for rate cuts

Fed's Rosengren sees no pressing need for rate cuts
FILE PHOTO: The Federal Reserve Bank of Boston's President and CEO Eric S. Rosengren speaks during the "Hyman P. Minsky Conference on the State of the U.S. and World Economies," in New York, April 17, 2013. REUTERS/Keith Bedford -
Keith Bedford(Reuters)
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(Reuters) – Despite growing trade tensions and geopolitical concerns that could threaten the U.S. economy, Boston Federal Reserve Bank President Eric Rosengren on Tuesday stuck to his view that the U.S. central bank does not need to cut interest rates further.

“As long as we see consumption and employment being relatively healthy, I’m not nearly as worried,” Rosengren told students and teachers at the Leo J. Meehan School of Business at Stonehill College in Easton, Massachusetts. With the Fed’s policy rate currently targeted at between 2% and 2.25%, the central bank has limited space to reduce rates before it hits its lower limit of 0%, he said.

“I don’t want to use up that valuable space at a time where we actually think prices are pretty stable and the labor markets are pretty tight,” he said.

(Reporting by Ann Saphir in San Francisco, Editing by Rosalba O’Brien)

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