Fed's Rosengren: 'Treading Water' on Jobs & the Economy

Tuesday, 7 Aug 2012 | 8:31 AM ET

"We're only just trending water in the labor market," says Eric Rosengren, Boston Fed President, commenting on the outlook on employment and discussing why he thinks the Fed needs "an open-ended" policy on quantitative easing and expand its portfolio of mortgage bonds and U.S. Treasuries, with CNBC's Steve Liesman.