Fed's Rosengren: No clear and compelling case for additional monetary accommodation

Explaining why he voted against a rate cut at the Federal Open Market Committee meeting earlier this week, Eric Rosengren, President of the Federal Reserve Bank of Boston, said he does not see a clear and compelling case for additional monetary accommodation at this time, citing low unemployment and the view that inflation likely to rise toward 2% for dissent on rate cut. Below are some key takeaways from the article, per Reuters.

"Market volatility, cost of credit, credit spreads not elevated."

"Stock prices near all-time highs as among reasons for no need for easing Fed policy."

The US Dollar Index continues to recover from daily lows and was last down 0.08% on the day at 98.33.