The Fed shouldn't even talk about halting QE until headline unemployment drops to 7.25% (it's...

|By:, SA News Editor

The Fed shouldn't even talk about halting QE until headline unemployment drops to 7.25% (it's 7.8% now), says the Boston Fed's Eric Rosengren. ZIRP, of course, will remain in place until UE hits 6.5%. If the employment picture doesn't improve, not only will the beatings continue, but Rosengren sees scope for an even-larger QE program.