Fed’s Rosengren: With inflation subdued, monetary policy should be focused on employment

• Decline in spread between mortgage, treasury yield after Fed’s operation twist “very significant”
• Fed should consider taking action if spreads between mortgage, treasury yields widen significantly
• Important to examine housing policies that might be changed to reduce impediments to monetary policy
• Housing sector woes impairing recovery

Guess we can place Mr Rosengren in the dove camp.