Montréal, Canada–7 October 2017 — Eric Rosengren, President of the Federal Reserve Bank of Boston, delivered the 2017 William S. Vickrey Distinguished Address entitled “Estimating Key Economic Variables: Policy Implications” at the International Atlantic Economic Conference on Saturday, 7 October at 11h30.
In his remarks, Professor Rosengren highlighted the:
- Need to be responsive to changes in underlying economic relationships “in my view, there is a need to be cautious when explaining developments in “high frequency” information with changes in relatively “low frequency” concepts.”
- Recovery after the financial crisis
- Slow growth in wages and prices
- Changes in the natural rate of unemployment
- Low equilibrium rate of interest
Eric Rosengren became the Boston Federal Reserve Bank’s 13th president and chief executive officer on July 23, 2007, after holding senior positions in both the Bank’s economic research and bank supervision functions.
Professor Rosengren joined the Federal Reserve Bank of Boston as an economist in the Research Department in 1985. He became assistant vice president in 1989, followed by vice president of the Banking and Monetary Policy section of the Research Department in 1991. In 2000, he was named senior vice president leading the Supervision, Regulation, and Credit department. In 2003, he assumed the additional role of chief discount officer and in 2005 was named executive vice president. During his time in Supervision, Professor Rosengren was active in domestic and international regulatory policy.