U.S. economic conditions are 'relatively benign,' Boston Federal Reser...
FILE PHOTO: The Federal Reserve Bank of Boston's President and CEO Eric S. Rosengren speaks in New York, April 17, 2013. REUTERS/Keith Bedford/File Photo/File Photo
“Should those risks become a reality, the appropriate monetary policy would be to ease aggressively,” Rosengren said in remarks prepared for delivery to the Leo J. Meehan School of Business at Stonehill College in Easton, Massachusetts. “Clearly, there is a downside risk that trade or geopolitical problems could escalate, resulting in a much weaker situation than is currently anticipated in economic forecasts.
“This is a particularly good time to carefully watch incoming data to determine whether any additional policy adjustments are necessary to achieve” the Fed’s goals of full employment and 2% inflation, Rosengren said. Since then U.S. President Donald Trump has escalated trade tensions, with new tariffs on Chinese imports going into effect over the weekend and more planned for later this year unless the world’s second-biggest economy agrees to a new trade deal with the United States.Fresh signs of the trade war’s chilling effect on U.S. manufacturing emerged earlier Tuesday, with new data showing U.S. factory activity decreased last month for the first time in three years, and new orders plummeted.
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