Fed's Rosengren (dovish dissenter in 2013, FOMC non-voter in 2014): Must be patient in removing stimulus, today's jobs report was disappointing, labor force slack is keeping inflation below target
- Could reach full employment in two years, confident we are on a path to full employment.
- Can see the light at the end of the tunnel for policy normalization.
- housing is not as strong as hoped
- Appears Fed will conclude QE tapering in Oct as previously planned.