Fed Member Plosser Says Economy Recovering Faster Than Expected

The U.S. economy is approaching the Fed’s economic targets faster than expected and might push the central bank to accelerate plans to increase interest rates, Philadelphia Federal Reserve Bank President Charles Plosser said on Tuesday.

Plosser said he had increasing confidence in economic growth, and added that inflation was trending higher and unemployment likely to fall faster than many of his central bank colleagues project.

“The current data suggest economic strength is fairly broad-based,” Plosser, who is a voting member of the Fed’s policy-setting committee this year, said in morning remarks at the Economic Club of New York.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza