US economy is close to full employment – FOMC’s Rosengren

Boston Fed President Eric Rosengren said on CNBC that the US economy is close to ‘full employment’ and he sees the jobless rate dropping towards 4.5% by end of next year.

Rosengren argued that waiting longer might raise the need to hike at a faster pace, while he added that markets have appropriately priced a rate hike in December.

It is worth recalling that E.Rosengren voted for higher rates at the latest FOMC meeting, along with members L.Mester and E.George.

Eric Rosengren is due to speak at the Boston Fed Conference later along with Chairwoman Janet Yellen.