The U.S. Federal Reserve should embark on an "open-ended" program for quantitative easing to enhance development and growth in the U.S. as the global economy show signs of slowing, the president of the Federal Reserve Bank of Boston said during an interview with CNBC.
Eric Rosengren said that the central bank of the U.S. should expend efforts on purchasing additional mortgage-backed securities while also establishing guidance based on the economic outcome it is pursuing.
"What I would argue for actually is to have it open-ended, that we focus on economic outcomes," Rosengren told the news source. "It would be setting a quantity that you're going to continue to buy until you get the economic outcomes that you want."
With the July jobless rate remaining at 8.3 percent as it was this past January, Rosengren said more intervention is necessary. He said the global slowdown in which the nation presently finds itself advocates for another quantitative easing program.
China, host of the globe's second largest economy – behind that of the U.S., is poised to recover from its economic hiccups as indicated by economic data the Asian nation is set to release later this week, Reuters reports.
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