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Rosengren, President of the Federal Reserve Bank of Boston, said Friday that the /FED of the Federal Reserve Committee should consider adjusting its monetary policy framework and strengthening the tools available for future economic shocks.
"Now it's time for policymakers to be cautious about what tools can provide more powerful cushioning when evaluating major negative financial shocks," Rosengren said in a speech prepared for the Federal Reserve's monetary policy seminar.
He said it should focus on financial stability policy tools, such as requiring banks to add more capital when the economy is good.
 
In his speech, Rosengren generally avoided the discussion about the economic outlook, but he said that labor market is starting to drive wages and inflation to rise moderately, and asset prices rise more rapidly.
He also said that neutral interest rates in the United States were falling, and the Fed had less room to cut interest rates in the face of any future crisis.
He warned that fiscal policy buffering has been decreasing as the proportion of US government debt to GDP has been rising.

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