The day after Lehman Brothers Holdings Inc. declared the largest bankruptcy in U.S. history in 2008, Federal Reserve officials remained unsure whether the financial crisis would do lasting damage to the U.S. economy.
Federal Reserve Bank of Boston President Eric Rosengren, the lone dissenter from the Fed’s plan this week to taper its bond purchases, said policy makers should have waited for more evidence of economic strength rather than rely on forecasts that have too often been wrong.
Federal Reserve Bank of Boston President Eric Rosengren, the only dissenter against a Fed decision to taper bond buying, said he is now comfortable with the strategy to gradually cut monthly purchases in the future.
Federal Reserve policy makers trimmed bond buying for a second straight meeting, uniting behind a strategy of gradual withdrawal from Ben S. Bernanke’s unprecedented easing policy as Janet Yellen prepares to succeed him as chairman.
Federal Reserve Bank of Boston President Eric Rosengren, the only dissenter against a Fed decision to taper bond buying, said policy makers should avoid hurting the economy and cut stimulus “only very gradually.”
Here’s what to look for when the Federal Open Market Committee releases a statement today at 2 p.m. after a two-day meeting in Washington. It will be the last meeting for Chairman Ben S. Bernanke, who isn’t scheduled to give a press conference.
Treasuries rose, pushing the yield on the 10-year note lower for a second day, as Federal Reserve Bank of Boston President Eric Rosengren said the central bank should cut stimulus “only gradually” as the economy recovers.