Fed must remain aggressive, Rosengren says (by Greg Robb)

WASHINGTON (MarketWatch) - The Federal Reserve must remain aggressive to combat the weak labor market, according to Eric Rosengren, the president of the Boston Fed Bank. "Given the very weak labor market conditions and the low expected inflation rate, the Federal Reserve should in my view continue to take action to aggressively try to reduce the stubbornly high U.S. unemployment rate, Rosengren said in a speech in Boston. Headwinds from the financial crisis and concerns about possible future financial shocks have led to lethargic economic growth and slow job growth, despite the Fed's efforts to stimulate demand, he said. Rosengren will be a voting member of the Federal Open Market Committee in 2013.