A trio of senior Federal Reserve policymakers have counselled a wait-and-see approach to US interest rates as they seek to assess the implications of the extreme volatility that struck financial markets late last year.
Eric Rosengren, the president of the Federal Reserve Bank of Boston, said on Wednesday that he remains optimistic about the economic outlook while acknowledging “reduced certainty” about his forecast.
“The appropriate stance for monetary policy is, for now, to not have a bias on moving policy in either direction until there is greater clarity around economic trends here and abroad,” he said, according to the text of a speech.
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