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(NECN) - What's ahead in 2014 on Capitol Hill and what's coming from the Federal Reserve Bank of Boston?
Jim Brett, CEO of the New England Council and John Hailer, CEO of Natixis Global Asset Management share their impressions of the activist role being played by the Federal Reserve Bank of Boston President Eric Rosengren.
Brett mentioned one of the Massachusetts cities Rosengren hopes to help revive is Lawrence, Mass., which has a 25% poverty rate and a 14% unemployment rate. He has a plan to develop schools to make them act as centers for health and adult language class facilities.
“He’s got some interesting ideas. This is not what you would expect of a Federal Reserve president. They’re usually academic- they’re not the social activists that he’s become,” Brett said.
“He’s not the Fed. chairman, so he does get a little bit more flexibility,” Hailer added. “He’s doing this regionally. But, he’s been very outspoken. He’s one of the few that voted against tapering, in fact, the only one.”
Hailer went on to say that he thinks there’s a difference between being a Fed. president and a social activist.