Fed Official Talk Matches Central Bank Walk ; Eric S. Rosengren and His Colleagues Are Right Not to Let Mortgage Defaults Run Their Course.

Summary

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The job description of a central banker includes cheerleading, and New England's top Federal Reserve officer did plenty of that when visiting Portland this week. But it's going to take more than encouragement for the Fed to finesse the economy past recession.

Fortunately, Eric S. Rosengren and his colleagues on the Federal Reserve's Open Market Committee understand this. The Fed has cut key interest rates in an attempt to head off a credit crunch following trouble in a portion of the home mortgage market.

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Fed Official Talk Matches Central Bank Walk ; Eric S. Rosengren and His Colleagues Are Right Not to Let Mortgage Defaults Run Their Course.

Rosengren is the new head of the Federal Reserve Bank of Boston. On Wednesday, he spoke in Portland,...

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