Low wage and price pressure require patient Fed policy: Rosengren

BOSTON (Reuters) - Low inflation rates across the world and only small amounts of wage and price pressure in the United States should force the Federal Reserve to move slowly as it pulls back on its accommodative monetary policy, a top Fed official said on Saturday.

    Boston Federal Reserve Bank President Eric Rosengren repeated his call for the U.S. central bank to take its time in establishing more normal policy after years of stimulus to boost the economy.

    "I believe the continued very low core inflation and wage growth numbers provide ample justification for patience," Rosengren said in prepared remarks for a panel here at the annual American Economics Association conference. "A patient approach to policy is prudent until we can more confidently expect that inflation will return to the Fed's 2 percent target over the next several years."

(Reporting by Michael Flaherty; Editing by Diane Craft)