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The Fed: Rosengren and Evans speeches underline Fed faceoff over interest rates

Bloomberg News/Landov

Federal Reserve Bank of Boston President Eric Rosengren

One thinks that assets are getting bubbly, suggesting it is time to raise interest rates. The other thinks the global economy has descended into a stagnant swamp that would not benefit from higher rates.

Boston Fed President Eric Rosengren, and Charles Evans, the president of the Chicago Fed, appeared together at an event hosted by the Shanghai Advanced Institute for Finance. Their separate speeches epitomized the debate at the central bank over the future path of interest rates.

In his speech, Rosengren said the Fed is close to achieving full employment and its 2% inflation target.

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