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Without Two Hawks, Fed Rate Consensus a Quarter Point Lower
The Federal Reserve is about to lose two of its most hawkish voters on policy decisions. Charles Plosser said Monday he would retire from his post as President of the Federal Reserve Bank of Philadelphia March 1. Dallas Fed President Richard Fisher is required to step down in April because of Fed retirement rules. Mr. Fisher and Mr. Plosser both dissented on the Fed’s September policy decision. Both wanted to move away from the Fed’s assurances of low interest rates. Both have been regular dissenters in past decisions, wary of the Fed’s low interest rate policies and their impacts on inflation and financial ... (full story)