Accommodative monetary policy remains "quite appropriate" and "a strong case can be made" for continuing the purchase of longer-term securities beyond year-end, Federal Reserve Bank of Boston President & Chief Executive Officer Eric S. Rosengren said Monday.

"Given the tepid economic recovery, high unemployment, and subdued inflation - and the uncertainty around fiscal policy - I believe an accommodative monetary policy is quite appropriate," Rosengren said in a keynote speech at a Fed conference in New York, according to prepared text released by the Fed. "We want to see continued improvement in labor markets in the near term, and monetary policy should encourage faster economic growth to achieve that objective."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.