Fed policy needs to remain accommodative since it has failed to achieve its dual mandate, Federal Reserve Bank of Boston President and Chief Executive Officer Eric S. Rosengren said Tuesday.

"Continued monetary accommodation is absolutely appropriate and indeed needed as long as we are projected to miss on both elements of the Fed's dual mandate, inflation and employment," Rosengren told the Greater Providence Chamber of Commerce Policy Forum, according to prepared text released by the Fed.

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.