Federal Reserve Bank of Philadelphia President Charles Plosser criticized the Fed's lending programs on Monday for failing to establish clear guidelines. Speaking in Chicago, Plosser said the Fed also neglected to designate to whom it would lend, or why, increasing the potential for volatility in...
Speaking at the Economic Club of Pittsburgh, Philadelphia Fed President Charles Plosser (voter) said U.S. GDP should contract somewhat more sharply in Q4 than in Q3, and that growth will likely weaken in the first half of 2009. "Recent data - including the monthly data on housing, auto sales, consumer...
In an interview with the New York Times, Philadelphia Fed President Charles Plosser said he might consider dissenting in favour of raising interest rates to fight inflation and maintain the Fed's credibility. "Dissent serves a function of illuminating for the public the nature of the policy debates,...
Speaking in a Bloomberg Television interview, noted hawk Philadelphia Federal Reserve President Chuck Plosser said the Fed may have to hike rates even as housing prices continue to fall. Plosser commented that the economy has not changed much in the last few months and that rising prices pose the biggest...
Inflation in the U.S. is "too high" and inconsistent with the goals of the Federal Reserve, whose accommodative policy must be reversed , said Charles Plosser, President of the Philadelphia Fed, on Tuesday. Plosser, a well-known inflation hawk, said monetary policy is too loose and the Fed will likely...
Speaking in an interview with CNBC, Philadelphia Fed President Charles Plosser said the inflation threat was "serious", and called it an "insidious tax on consumers". Inflation has spread to more than just food and oil, said Plosser, and the Fed is in a unique position to address those issues. The policymaker...
Philadelphia Fed President Charles Plosser said the Federal Reserve must follow rules and exercise caution as a lender of last resort. Speaking at the Society for Financial Econometrics Inaugural Conference in New York, Plosser said benchmarks may be needed to properly determine situations that qualify...