Research Scientist Eric Rosengren joins CNBC’s Squawk Box to discuss recession fears and Fed rate cuts, pointing out the largely healthy economy likely means no cuts in the short term. “We're just not seeing much in the way of underlying economic data that would indicate that financial markets are actually signaling a problem,” Rosengren says. “There’s no obvious financial instability issue here and the economy continues to be doing reasonably well.”
AP reporter Christopher Rugaber writes that Susan M. Collins PhD ’84 will be the next president of the Federal Reserve Bank of Boston. “Dr. Collins brings the technical expertise and insight to contribute to policymaking and the leadership ability to head the organization,” said Christina Paxso and chair of the Boston Fed’s Board of Directors.
Susan M. Collins PhD ’84 has been selected as the next president of the Federal Reserve Bank of Boston, “the first woman of color selected to lead one of the 12 regional Fed branches since the central bank system was created in 1914,” reports Larry Edelman for The Boston Globe. “A common theme throughout my career has been commitment to the mission of public service to improve lives — whether through education, research, or policy,” said Collins.
Susan M. Collins PhD ‘84 has been named the next president of the Federal Reserve Bank of Boston, reports Michael S. Derby for The Wall Street Journal. “Throughout my career, I have been driven by a commitment to leveraging research, education and public service to improve lives,” says Collins. “I look forward to helping the bank and system pursue the Fed’s dual mandate from Congress – achieving price stability and maximum employment.”
Bloomberg reporter Craig Torres spotlights alumna Stacey Tevlin PhD ’95 who leads the Federal Reserve’s Research and Statistics division and is “the most important person in U.S. economics that you have probably never heard of.” Tevlin’s team is entrusted with “the forecasts for policy makers as they weigh interest rates every six weeks,” writes Torres.
Research by Prof. Athanasios Orphanides examines the Federal Reserve’s efforts to improve communications, reports Nick Timiraos for The Wall Street Journal. Orphanides found “the quarterly summary of economic projections from Fed officials and its accompanying interest-rate projections, sometimes referred to as a ‘dot plot,’ would be more valuable if it expressed changes in officials’ uncertainty or confidence in their projections.”
In an article for Fortune, Senior Lecturer Robert Pozen argues that the Federal Reserve should not lower interest rates. “When the U.S. economy falls into the next recession, as it inevitably must, the Federal Reserve needs to respond by sharply lowering interest rates,” writes Pozen. “However, U.S. interest rates are now so low that the Fed has little dry powder in its arsenal.”
Professor Thomas Kochan writes for Fortune about the latest job’s report from The Bureau of Labor Statistics and argues that the Federal Reserve should set an explicit wage growth target: “Without significant and steady progress on the pay front, the American dream is in peril.”