Philadelphia Federal Reserve Bank President Charles Plosser speech on the economic outlook and monetary policy, in Philadelphia.
President Charles Plosser highlights the history of the Federal Reserve and why he believes our central bank's unique structure has withstood the test of time. He also discusses the importance of having an independent central bank that can make monetary policy decisions without fear of direct political interference. During Q&A, Plosser indicated that "patient" guidance has put off any rate hike until at least June. He prefers to remove "patient" from guidance. On the economy, he sees lower oil prices as a plus.
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