Fed's Rosengren confident recovery becoming "self-sustaining"

MANCHESTER, New Hampshire Wed Mar 27, 2013 1:26pm EDT

Boston Fed President Eric Rosengren speaks during the Sasin Bangkok Forum July 9, 2012. REUTERS/Sukree Sukplang

Boston Fed President Eric Rosengren speaks during the Sasin Bangkok Forum July 9, 2012.

Credit: Reuters/Sukree Sukplang

MANCHESTER, New Hampshire (Reuters) - Boston Federal Reserve President Eric Rosengren said on Wednesday that he is more confident in the state of the economy than he has been in half a decade.

"I'm more confident now than I have been at any point in the last five years that we're starting to get some self-sustaining growth," said Rosengren, a leading Fed dove who is a voting member of its policy-setting committee this year.

The world and economy continue to face risks including those posed by gridlock in Washington, Rosengren acknowledged. But he told a group of business leaders at St. Anselm's College in Manchester, New Hampshire that he does not expect those risks to stop the recovery.

"It's not that there aren't problems, it's that my expectation is that most people will be rational enough that those problems, while potential headwinds, won't prevent us from having a better recovery," Rosengren said.

(Reporting by Scott Malone; Editing by Chizu Nomiyama)

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