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- Philadelphia Fed President Plosser: Fed stimulate new stage coupled with a "significant risk"
Philadelphia Fed President Plosser: Fed stimulate new stage coupled with a "significant risk"
Inflation is likely to "slow down" in the medium term
Recovery in the labor market will be gradual
Fed faces a long-term inflationary risk in the new policy
U.S. GDP will grow by 2% this year, 3% in 2013 and 2014
Inflation is expected in the medium term will remain near the target level
New incentives from the Federal Reserve could weaken the credibility of the central bank
Will have to raise rates before mid-2015 in order to avoid inflation
Uncertainty remains a major constraint to economic growth
I opposed the stimulus at the September meeting of the Operations Committee on the Federal Open Market
New measures by the Fed is neither practical nor efficient for the economy
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