Non voting Fed member Charles Plosser in a speech on the economy is saying, “Because I see little gain at this point, and some costs, I would prefer not to engage in further asset purchases at this time…Asset purchases in our current economic environment can do little if anything to speed up the return to full employment.” If one thing is for certain, the debate in the Fed leading into the Nov FOMC meeting will be heated over the decision whether to continue to push the envelope with monetary policy. While Plosser’s comments are welcome from my point of view, the voting members have a much more dovish slant.

Category: MacroNotes

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Plosser says no mas for now”

  1. gusgus says:

    Plosser’s right to point out that he sees “little gain at the point … in further asset purchases”. On the other hand, the Fed has a dual mandate to promote price stability and full employment, a mandate that they are failing at on both accounts. It’s hard to argue that the Fed should stand pat and do nothing given this failure.

  2. [...] be heated over the decision whether to continue to push the envelope with monetary policy,” says Peter Boockvar, a Miller Tabak equity strategist. “While Plosser’s comments are welcome [...]