Rosengren: U.S. Economy Will “Skirt a Recession”
Boston Fed President Eric Rosengren spoke in New York City today and said he expects the U.S. economy to “skirt a recession”. He went on to say the housing slump could worsen, but thinks rate cuts will help mitigate losses. However, Rosengren said any further drops in home price will harm consumer spending, residential investment and balance sheets at “large instiutions”.