Economics
Fed's Rosengren Says 2% Growth Needed for Rate Liftoff This Year
- Says weak jobs report shows Fed was right to delay hike
- Boston Fed president cuts full-employment estimate to 4.8%
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Federal Reserve Bank of Boston President Eric Rosengren said the U.S. economy needs to be growing at a 2 percent pace in the second half of the year to justify an interest-rate increase by December.
The slower rate of job gains in September and weaker exports validated the Federal Open Market Committee’s concerns about international growth when it decided not to raise interest rates at its September meeting, Rosengren said.