Verbal missteps by the U.S. Federal Reserve have increased the risk of a volatile market reaction when the time comes to raise interest rates, the outgoing president of the Philadelphia Fed said in an interview on Friday.
Charles Plosser
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A U.S. Treasury official and a director at the New York Federal Reserve are among those who have been considered to replace two hawkish Fed policymakers, according to people familiar with the searches.
A top Federal Reserve official said on Thursday there are risks in Europe, which is having a "tough time" economically, but he downplayed the possible impact on the U.S. economy and U.S. exports.
Philadelphia Federal Reserve Bank President Charles Plosser, the loan dissenter at the Fed's July policy meeting, on Saturday continued his push for the U.S. central bank to change its language on monetary policy to reflect an improving economy and pave the way for a sooner-than-expected interest rate hike.
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