Rate Outlook
Rosengren is deeply concerned about a potential deflationary scenario that could hinder the U.S. economy for a long time.
"The problem of significantly undershooting inflation—a dynamic which could well keep interest rates at the zero lower bound—is likely to be a key challenge to central bankers in the first two decades of the 21st century,” Rosengren said in Frankfurt earlier this year."
He sees no evidence that inflation will hit the Fed's 2 percent target anytime soon, meaning interest rates should stay at zero.
"We ought to be as concerned about systematically missing our inflation target on the low side as on the high side," he told the WSJ.
Biography
Rosengren was born on June 3, 1957, in Ridgewood, New Jersey. He graduated from Colby College with a B.A. in economics. He attended the University of Wisconsin, Madison, where he earned an M.S. in economics in 1984 and a Ph.D. in economics in 1986.
Rosengren has held senior positions within the Federal Reserve in both the research and bank supervision functions.
He has served as an advisor on Japanese banking issues, and a focus of his research has been how financial problems can impact the real economy.
Rosengren is known as the most liberal activist among his colleagues at the Fed.