2012 Message from the President 2012 Message from the President

March 15, 2013

Bank president Eric Rosengren focuses on three key policy initiatives the Bank pursued in 2012.

  • The first relates to financial stability, and more specifically the run on prime money market funds in the financial crisis. Through statistical studies, editorials, and speeches, the Bank highlighted in 2012 the need to address money market fund policies.
  • The second initiative centers on a regional issue – educational attainment. President Rosengren notes that New England has done much better than the rest of the country, but unfortunately some of our mid-size cities have lagged.
  • The third focuses on a monetary policy issue – how to ensure the economy grows more rapidly than it has over the course of much of this recovery. President Rosengren describes how home sales and auto sales responded to the lower interest rates that stemmed from the Fed’s monetary policy actions in 2012.