Fed’s Rosengren: Lower unemployment shows need to tighten policy

Speaking at a Northeastern University economics forum, "it is quite likely that unemployment will fall below 4 percent, which is likely to increase pressures on inflation and asset prices. That suggests the need to continue to gradually remove monetary policy accommodation, which is quite consistent with market expectations of another increase in December," said Boston Fed President Eric Rosengren.

Key quotes (via Reuters)

Rosengren backs December U.S. rate hike.

Temporary factors explain low inflation.

Economy appears to have moved beyond 'maximum sustainable' employment level.