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Fed's Plosser warns of dire outcomes from current policy stance
Posted to: Around The Web
Thursday, August 21, 2014 12:55 PM

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Fed's Plosser warns of dire outcomes from current policy stance JACKSON HOLE (MarketWatch) - The Federal Reserve's current policy stance is risky in light of economic conditions, said Charles Plosser, the president of the Philadelphia Fed, on Thursday. "I think we are running a risky policy given where the stance of the economy is and seems to be going," Plosser said in an interview with CNBC. The currency policy stance may lead to another financial crisis or a lot of inflation. "The consequences could be dire if we get this wrong," he said. Fed Chairwoman Janet Yellen and her allies on the central bank are signaling that economic conditions are likely to support a first rate hike in mid-2015. Plosser has been advocating a quicker rate hike, perhaps even this year


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