Eric Rosengren ’79, president of the Federal Reserve Bank of Boston, has become a familiar face in Chelsea, Mass., through his extensive involvement in a Boston Fed program to fund local anti-poverty projects. His dedication has received recognition from Fed Chair Janet Yellen, who visited Chelsea in October, and reflects a vision of a central bank not limited to interest-rate policy and financial regulation.
Rosengren is prepared to defend his approach against congressional critics who want to limit the Fed’s reach. “We’re public servants,” he said. “The goal is to make the public better off.”
“[Rosengren] certainly is more liberal and more activist” than other Fed presidents, said former Colby economics professor Hank Gemery, who taught Rosengren at Colby. “But his positions are derived from analysis. If the analysis calls for action in other areas, he’s perfectly willing to say so.”