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Fed’s Plosser: Date-based guidance is problematic
Philly Fed President Charles Plosser has released a statement on his dissent: • Date-based guidance is problematic; policy should be determined by data. • Fed is not leaving enough flexibility. • Economy is not in need of extraordinary accommodation. Nothing surprising. Plosser is extremely hawkish and that was his final chance to vote with the Fed rotation shifting in 2015.