Seeking Alpha

Plosser says rate hike is closer than many think

  • Philly Fed's Charles Plosser, Chicago's Charles Evans and Atlanta's Dennis Lockhart disagreed today on whether the declining U.S. unemployment rate warrants advancing the timing for an interest rate increase.
  • Plosser said “we are closer than a lot of people might think” to the first rate hike since 2006 and the Fed risks losing credibility by waiting too long to raise rates; in separate speeches, Evans and Lockhart countered that low inflation and labor market slack will allow the Fed to wait until late 2015 or 2016.
  • Plosser is an FOMC voting member this year; Evans and Lockhart are non-voters.
Comments (1)
  • joelkatz
    , contributor
    Comments (532) | Send Message
    Time to load up with $tmv
    13 Jul 2014, 08:00 AM Reply Like
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