Fed’s Plosser Not Worried About Inflation

From wsj.com

Charles Plosser, president of the Federal Reserve Bank of Philadelphia, said Tuesday he was not worried about inflation pressures, despite a recent uptick in consumer prices. Still, Mr. Plosser told Fox Business in an interview, he believes interest rates should begin to rise as early as this year. “We are much closer to achieving our objectives than we used to be. We’ve made progress,” Mr. Plosser said. “We need to be adjusting our messaging about the adjustments to our funds-rate path that reflect the changes in the approaching objectives.” U.S. inflation has been running below the Fed’s 2% target for ... (full story)