Fed’s Rosengren repeats call for gradual rate hikes

Answering questions from the audience after delivering a speech in Montreal, Rosengren(filepic) said inflation would probably be

MONTREAL: Federal Reserve Bank of Boston president Eric Rosengren stepped up his argument to keep the US central bank on track for additional gradual interest-rate increases, warning against being too sensitive to short-term economic data.

Answering questions from the audience after delivering a speech in Montreal, Rosengren said inflation would probably be “much closer to 2%” a few months into 2018 as the impact faded from notable pricing changes for mobile phones and certain pharmaceuticals that had helped keep levels low this year.