By Ann Saphir
(Reuters) – A number of top Federal Reserve officials want more convincing evidence that U.S. inflation is on a healthy upswing before embarking on what they expect will be a very gradual course of interest rate increases.
Policymakers at the central bank this week began to flesh out their thinking on the likely path for U.S. interest rates, with several calling for restraint and suggesting a willingness to push the economy past full employment to ensure a robust recovery and vanquish deflation risks.
, Sept 23 (Reuters) – The U.S. Federal Reserve
should begin raising rates soon or risk stoking future inflation
and further distorting financial markets where too many
investors are already taking excessive risks, a top Fed official
said on Tuesday.
But it should also do so gradually so as not to roil markets
or hurt the economy, Kansas City Federal Reserve President
Esther George said.
By Ann Saphir
(Reuters) – Philadelphia Federal Reserve Bank President Charles Plosser, whose vocal discomfort with the U.S. central bank’s super-easy monetary policy marks him as one of its hawkish policymakers, will retire on March 1, 2015, the regional Fed bank said on Monday.
Plosser, 66, has dissented on policy decisions half a dozen times during his eight-year stint at the Fed, often charging that the looser monetary policy his colleagues support could spark future inflation and flies in the face of established monetary policy rules.