Eric Rosengren, president of the Federal Reserve Bank of Boston, and San Francisco’s John C. Williams followed the lead taken by Fed Chairman Ben S. Bernanke, who signaled last week that policy makers will keep stimulus in place after ending large-scale bond purchases in June.
“Right now we’re pretty far away from our targets, and right now we’re keeping monetary policy accommodative,” Rosengren, 53, said yesterday in an interview with Bloomberg News. “It’s very appropriate given how far we are from our targets.”
Bernanke and his colleagues on the Federal Open Market Committee said last week that the economy, which has added an average of 149,000 jobs a month over the last six months, is recovering at a “moderate pace.” For interest rates to rise, “we’d have to see much more job growth than we’ve seen to date,” Rosengren said in the interview.
U.S. stocks fell yesterday and bonds climbed after private reports showed that companies added fewer workers than forecast in April and service industries expanded at the slowest pace in eight months. A Labor Department report tomorrow may show that the jobless rate was unchanged at 8.8 percent last month and 185,000 jobs were added to payrolls, according to the median estimates in a Bloomberg survey.
(Full article)
I know this is an older post, but in case you are nervous about your Silver and need reinforcement!
"Inflation, what inflation"? The US Central Banking Cartel.
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