Philadelphia Fed boss Plosser makes clear his opposition to the FOMC's "guidance" of...

|By:, SA News Editor

Philadelphia Fed boss Plosser makes clear his opposition to the FOMC's "guidance" of exceptionally low rates through 2014, saying markets have mistakenly misinterpreted this as a pledge. "Monetary policy should be contingent on the economic environment and not on the calender." Plosser no longer has a vote on the committee.