April 16, 2019 / 1:18 AM / 4 months ago

No need to adjust policy to prevent financial instability: Fed's Rosengren

(Reuters) - The Federal Reserve should not adjust policy right now to prevent stock prices from running higher, the president of the Federal Reserve Bank of Boston, Eric Rosengren, said on Monday.

“We have to continue to watch what’s happening with financial stability issues,” but we are not at any extremes now in terms of broad prices of financial assets, Rosengren said in response to a question after a speech in Davidson, North Carolina. “It’s appropriate for interest rates to be paused right now.”

Reporting by Trevor Hunnicutt in New York; Editing by Leslie Adler

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