Philadelphia Fed president Charles Plosser said today that a strong labor market and an improving US economy is making it more difficult for the US economy to justify not raising interest rates.
Mr. Plosser told CNBC television in an interview, “We are getting to the point where it’s hard to justify not raising rates,” said Mr. Plosser, who will retire next month. “There’s a good justification for increasing rates earlier.” He further added, “The committee will have to figure out how to transition away from ‘patience’”.
Mr. Plosser told CNBC television in an interview, “We are getting to the point where it’s hard to justify not raising rates,” said Mr. Plosser, who will retire next month. “There’s a good justification for increasing rates earlier.” He further added, “The committee will have to figure out how to transition away from ‘patience’”.
