http://www.marketwatch.com/story/feds-plosser-new-patient-language-on-rates-still-not-data-specific-2014-12-19?link=MW_latest_news
In a statement, Philadelphia Fed President Charles Plosser explained why
he dissented at Wednesday's Federal Open Market Committee, saying new
language still stresses the passage of time, rather than being data
specific. "While the expansion of the balance sheet ended in October,
the forward guidance regarding the likely path of the federal funds rate
has remained essentially unchanged since last March. By stating that
the new language is consistent with prior guidance, the statement makes
no change in forward guidance despite the significant economic progress.
I do not view this as appropriately data-dependent policy," he said.
Each of the regional presidents who dissented -- Narayana Kocherlakota,
Richard Fisher, and Plosser -- have plans to step down that make the
December vote their last.
No comments:
Post a Comment