It may take the Fed several meetings before it has a clear read on the economy, a top Fed policymaker said.
It may take the Federal Reserve several meetings before it has a clear read on the economy, a top Fed policymaker said on Tuesday, in one of the clearest signals that the Fed's rate-hike holiday may last for a while.
The remarks in a speech prepared for delivery on Tuesday represent a stark change in emphasis for Rosengren, who is the voting member this year of the Feds policy-setting Federal Open Market Committee. As recently as January, he said that two rate hikes could still be necessary in 2019 if more optimistic economic forecasts came true.
It may be several meetings of the Federal Open Market Committee before Fed policymakers have a clearer read on whether the risks are becoming reality — and by how much the economy will slow compared to last year, Rosengren said in his remarks, prepared for delivery to a branch of the National Association of Corporate Directors in Boston.
The Fed's next policy meeting will be held March 19-20, followed by meetings in April, June and July.
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