QE may last until jobless hits 7.25pc

Boston Federal Reserve president Eric Rosengren yesterday called on the Fed to carry on purchasing assets until the unemployment rate came down to 7.25 per cent. The headline rate was 7.8 per cent in September, but weekly new unemployment insurance claims seem to be trending downwards. New claims fell 9,000 over the last full week of October, the Department of Labor said yesterday, to hit 363,000 – versus 398,000 a year ago.