Fed’s Eric Rosengren speaking in Boston
– US rate hike is likely appropriate before the market currently expects
– US outlook not as weak as market pricing suggests
Rosengren is a voter this year and these comments are very hawkish for him, although he has been a bit wishy washy in his last few outings. In Jan he said the data raised the possibility that the US was slowing and in Feb he said the Fed would need to see more progress on both mandates to raise rates further.