Thursday, November 10, 2011

Eric Rosengren called for fiscal policy action

Boston Fed President Eric Rosengren called for fiscal policy to take a more prominent role to boost the economy and for the Fed to continue to work to lift demand in the economy.

"But clearly the Federal Reserve cannot do it alone. Given the sobering macroeconomic situation, it is important that fiscal policy, controlled by the federal government and the states, do its part. It is also important for international policy makers to take actions that provide more stable world markets. But at the same time, in my view the Federal Reserve should continue to use the tools at its disposal to boost demand in the economy. And at the same time, we would do well to work on addressing any impediments to students getting the employment opportunities that will serve them, their communities, and the macroeconomy."

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