QUINCY, Mass.–With plenty of debate continuing around the question of will they or won’t they, Boston Fed President Eric Rosengren indicated last week that he is in favor of gradual interest rate hikes.
Specifically, said Rosengren, he is concerned about some markets such as commercial real estate becoming “too ebullient.”
“My personal view, based on data that we have received to date, is that a reasonable case can be made for continuing to pursue a gradual normalization of monetary policy,” Rosengren said during remarks before the South Shore Chamber of Commerce here.
Rosengren is a voting member of the Fed’s policy committee and he declined to discuss exactly when he thought the Fed should move.
Rosengren said commercial real estate prices adjusted for inflation “have risen quite rapidly over the past five years, especially for multifamily properties.”
The Fed next meets Sept. 20-21, and then Nov. 1-2 and Dec. 13-14.