Eric Rosengren, president of the Federal Reserve Bank of Boston, is committed to the Federal Reserve's current bond purchases, at least through year's end. 

Rosengren believes the continued purchase of $40 billion of mortgage-backed securities and $45 billion of Treasuries will provide faster economic growth and a more rapid improvement in the unemployment rate. 

"The Fed's purchases of long-term securities are intended to lower longer-term interest rates, like rates on home mortgages and auto loans, in order to promote faster economic growth," he said.

Rosengren added, "These purchases also encourage households and businesses to shift somewhat from riskless low-yielding short-term government securities to investments that bear a sensible degree of risk and have a stronger economic effect, like corporate bonds and stocks."