Rosengren Flags Jobs Report, yet Says Fed Rate Hikes Coming

The U.S. economy’s rebound from a weak winter has moved the Federal Reserve closer to raising rates, though last month’s poor employment report might give it pause, a top Fed official said on Monday.

Boston Fed President Eric Rosengren, speaking in Finland, gave the latest hint that while the U.S. central bank remains on track to continue tightening policy it likely will not do so at a June 14-15 meeting.

“Lately the economic data have been choppy” with the May employment report “disappointing,” Rosengren, a dovish voter on Fed policy this year, said at the Global Interdependence Center conference in Helsinki.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.