Philly Fed's Plosser Says Rate Increase Could Come Sooner
January 30, 2012
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Philly Fed's Plosser Says Rate Increase Could Come Sooner
Philadelphia Fed President Charles Plosser said that increases in the federal funds rate could come earlier than expected, depending on the health of the economy.
In an interview with CNBC, Plosser said that a rate hike could come before mid-2013, and that he actually expects the first rate increase by the FOMC sometime in 2012.
Plosser admitted that he would have preferred the language in the FOMC statement to have been a bit more “optimistic,” as he has seen more optimistic signs from the market lately.
Last week’s FOMC statement revealed that the Fed plans to leave rates “exceptionally low through at least 2014.”
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