Rosengren sees rates becoming mildly restrictive

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Unless risks materialize, Federal Reserve Bank of Boston President Eric Rosengren see rates being raised gradually until they are "mildly restrictive."

By raising rates slowly, it averts "a more forceful response" when risks arise, he told a gather in Dalton, Mass., Friday, according to text released by the Fed.

Rosengren said his views are consistent with those in the Summary of Economic Projections, which expects the federal funds rate target to rise to 3.4% in 2021. "Of course, if risks become more germane, a different path may be warranted," he noted.

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Monetary policy Eric Rosengren Federal Reserve Federal Reserve Bank of Boston FOMC