Boston Federal Rserve Bank President Eric Rosengren speaking before the Portland Regional Chamber of Commerce, Portland, Maine told the audience that , "Absent significant negative economic news over the next month," the market's assessment of the likelihood of monetary policy tightening in December "seems plausible."
He cited October payroll employment growth of 161,000 jobs and the unemployment rate at 4.9 percent as evidence that the economy is at or close to most economists' estimates of "full employment."
The Federal Reserve monetary policy committe, the FOMC, is scheduled to meet on Decdember 13-14.
I consider the odds of a December rate hike very high.
-RW
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