Name: Fed's Rosengren says large fiscal package appropriate, hopes for full employment within two years
Brand: reuters.com
SKU: reuters-com-1594
Availability: OnlineOnly

critic

Fed's Rosengren says large fiscal package appropriate, hopes for full employment within two years

preview

By (Reuters) - The $1.9 trillion fiscal relief package lawmakers are considering is appropriately large given the pandemic’s effects on the labor market and policymakers will have time to pull back support as the economy approaches full employment, Boston Federal Reserve Bank President Eric Rosengren said on Friday.“It is a big fiscal package that is being considered right now - I think it’s appropriately big,” Rosengren said in an interview with Reuters. “I am much less concerned than some commentators about it being a problem of overheating the economy.”His comments were in line with remarks made by other Fed officials, including Fed Chair Jerome Powell, who called last week for a broad national effort to get Americans back to work after the pandemic.“The economy has quite a ways to go to get back to maximum employment, and we have a ways to go to get back to our 2% inflation target, so I’m not really concerned about stimulus, about fiscal support right now being excessive or anything like that,” New York Fed President John Williams said Friday on CNBC.Rosengren said he is hopeful the recovery will be strong enough for the labor market to return to full employment within two years, though he said the pace will depend on what happens with new variants of the virus and the distribution of vaccines.Some service sector workers risk facing prolonged periods of joblessness as people remain hesitant to travel or crowd into restaurants and bars, he said. As more businesses fail, those displaced workers may need help with learning new skills and moving into other industries, Rosengren said.“Once we get closer to full employment, then we can worry about fiscal sustainability issues,” he said.Reporting by Jonnelle Marte; Editing by Chizu NomiyamaOur Standards:

By (Reuters) - The $1.9 trillion fiscal relief package lawmakers are considering is appropriately large given the pandemic’s effects on the labor market and policymakers will have time to pull back support as the economy approaches full employment, Boston Federal Reserve Bank President Eric Rosengren said on Friday.“It is a big fiscal package that is being considered right now - I think it’s appropriately big,” Rosengren said in an interview with Reuters. “I am much less concerned than some commentators about it being a problem of overheating the economy.”His comments were in line with...

public

Jonnelle Marte

Top and breaking news, pictures and videos from Reuters. For more breaking business news, follow @ReutersBiz.

reuters.com

Credible

Speculation

Anecdotal Evidence

Generalization

Stacking the Deck

Appeal to Authority

Straw Man

Slippery Slope

Emotional Appeal

Red Herring

False Dilemma

Illogical

Moral Equivalency

Ad Hominem

Correlation w/o Causation

Semantics

Begging the Question

Faulty Analogy

Non Sequitur

Bandwagon

Dogmatism

Failing Occam's Razor

Biased

Pure Opinion

Hit Piece

Racial Bias

National Bias

Religious Bias

Financial Incentive

Political Agenda

Gender Bias

Misused Image/Video

Study Misinterpreted

Mistake

Misused Term

Science Misrepresented

Factual Error

Satire

Surface Level

Lack of Reliable Sources

Sensational

Not Credible

Investigative

Balanced

Well Sourced

Great Context

sports

entertainment

U.S.

international

business

technology

science

culture

politics

media

health

Fed's Rosengren says large fiscal package appropriate, hopes for full employment within two years

No article scores yet.

CRITIC REVIEWS

PUBLIC REVIEWS