Cato Institute 30th Annual Monetary Conference, Part 7

Charles I. Plosser
President, Federal Reserve Bank of Philadelphia

Plosser’s speech: “Good Intentions in the Short Term with Risky Consequences for the Long Term.”

Since Plosser is reading his speech almost verbatim, for me to take notes would be superfluous.  I have to run to get my car, so I won’t be here for the Q&A.

In short, Plosser is concerned for the institutional image of the Fed, and trying to be more orthodox, and rules-based.  He wants the Fed to move away from the relatively unorthodox policy currently followed.

I’ll have a summary post this evening with my views of the meeting as a whole, and where I think various speakers hit and missed.