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Fed's Rosengren backs aggressive policy stance
WASHINGTON (MarketWatch) -- The Federal Reserve's loose monetary policy is "absolutely appropriate" given high unemployment and low inflation, said Eric Rosengren, the president of the Boston Federal Reserve Bank, on Tuesday. "Current inflation is somewhat below our 2% target, and unemployment is well above a longer-run sustainable rate," Rosengren said in a speech to the Greater Providence Chamber of Commerce Policy Forum. Rosengren did not provide an estimate for when the Fed would terminate its bond-buying program. "Monetary policy should be guided by current and future economic outcomes, not calendar dates," he said. Rosengren will be a voting member of the Fed's interest-rate setting committee in 2013.
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