Comments from the Fed's Rosengren on Bloomberg TV
- We're arguably at full employment
- Confirms he's one of the dots forecasting 4 hikes this year
- Core inflation has risen from 1.4% to 1.7%
- I think there is evidence that wages are going up
- Wages are going up in certain industries
- Some asset markets are 'a little rich'
- 'I wouldn't stay the stock market is a driving force'
- Economists see 2.2% or 2.3% growth this year, that's enough to keep bringing unemployment down
- The economy is in a very good spot, we're basically where we want to be
- Four hikes this year is much more gradual that coming out of previous recession
- Says rising unemployment would indicate a less-tight jobs market; could cause him to reconsider for hikes, inflation too
- Valuations in commercial real estate have gotten quite rich
- Not much evidence of Brexit spillover
Rosengren placed himself firmly in the hawkish camp but for the most part, he spoke a lot to say very little. He was asked about certain things and indicators that he was watching; he responded saying employment and inflation and talking about the mandate.
