Bonus Quote of the Day!!!

I’m with Fed Bank of Boston President Eric Rosengren (he dissented yesterday) on the risks of cutting interest rates in a tight labor market/low interest rate environment.  emphasis mine…

“The stance of monetary policy is accommodative. Additional monetary stimulus is not needed for an economy where labor markets are already tight, and risks further inflating the prices of risky assets and encouraging households and firms to take on too much leverage. While risks clearly exist related to trade and geopolitical concerns, lowering rates to address uncertainty is not costless.”

Here’s the chart featured in his statement this morning that troubles me the most:


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