I can only surmise that Plosser is giving a reason to go away on a long vacation (even if he doesn´t vote)

Am I wrong?

Mr. Plosser said the best strategy for the Fed right now is simply to step aside.

“This is just one of those recoveries where patience is going to be the biggest thing,” he said, adding “I don’t think the fact it’s slow is an indication that the level of monetary policy accommodation is too low, or that necessarily more aggressive accommodation would speed it up.”

“It doesn’t surprise me things look kind of bad right now,” Mr. Plosser said. “I don’t think that’s going to change dramatically over the next three or four months,” he said.

When it comes to the outlook, “I don’t think that monetary policy will be particularly determinant” in what happens, Mr. Plosser said.

2 thoughts on “I can only surmise that Plosser is giving a reason to go away on a long vacation (even if he doesn´t vote)

  1. I posted this on Tim Duy’s comment as well:

    Here’s what Charles Plosser said on Bloomberg radio: “One consequence of keeping interest rates low, of course, is that those who are trying to save because the equity in their home fell and they don’t have the money for retirement or send their kids to college, they now have to save more because the yields are so low.”

    So I guess according to Plosser low and negative equity home owners are being hurt because they aren’t earning enough on their CD accounts?!?!?!?!

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