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The Boston Globe


Boston Fed chief predicts slow recovery

Calls for more action to lower jobless rate

Eric S. Rosengren, president of the Federal Reserve Bank of Boston, made gloomy predictions Wednesday for a slow economic recovery through the year, calling on policy makers to do more to lower the US unemployment rate.

“I am expecting growth of only 2.3 percent for the full year, I’m sorry to say, and unfortunately no improvement in the current US unemployment rate of 8.1 percent,” Rosengren said in a speech in Worcester. He added that he believes the Federal Reserve should take additional steps — though he did not specify what steps — to lower the unemployment rate.

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