He was joined twice by Mr. Plosser, who objected to rate cuts at the time.
Plosser will be a voting member of the Federal Open Market committee in 2011.
Plosser's comments came from a speech he was giving to a gathering held at the Cato Institute in Washington.
Philadelphia Federal Reserve Bank President Charles Plosser and Cleveland Federal Reserve Bank President Sandra Pianalto will speak publicly on Wednesday.
Philadelphia Federal Reserve Bank President Charles Plosser said he wanted the U.S. central bank to act to address inflation now.
"I share the frustration of many with the pace of recovery, " Federal Reserve Bank of Philadelphia President Charles Plosser said.
Plosser is not a voting member of the Federal Open Market Committee.
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Later today we will hear from Fed colleagues Dudley, Plosser and Fisher.
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Rising oil prices and extremely loose monetary, though, also feed the possibility of stagflation, as Philadelphia Fed President Charles Plosser has warned.
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Most attention among regional bank presidents will likely go to Mr. Plosser and Mr. Fisher, two policy makers who have not been shy about casting dissenting votes.
"I continue to advocate that the Fed follow a systematic approach that keeps monetary policy focused squarely on inflation and output growth, but especially on inflation, " Plosser said.
The bulk of Plosser's speech was dedicated to familiar themes.
As was expected before the FOMC meeting, Richard Fisher of the Dallas Fed, Narayana Kocherlakota of the Minneapolis Fed, and Charles Plosser of the Philly Fed dissented with Bernanke.
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While it should be noted that while Plosser is not a voting member of the Federal Open Market Committee, his comments should nonetheless be disregarded given his position and experience.
The downbeat mood in equities was further fueled by U.S. Fed official Charles Plosser late Tuesday suggested that quantitative easing was unlikely to boost economic growth or help the struggling labor market.
While the headline of this post may come as a surprise to many, it was the exact sentiment conveyed by Federal Reserve Bank of Philadelphia President Charles Plosser on Tuesday, September 25.
While many Fed critics have argued the Fed should have raised rates then to lean into what turned out to be a surging housing market, Plosser said that conception is not quite right.
Recently, Philly Fed President Plosser cautioned that folks who fell out of work during the Great Recession do not possess the skills necessary for qualifying for types of job openings that are being created.
Fisher, Plosser, and Kocherlakota felt Bernanke was overreacting.
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Four presidents of regional Fed banks will step into the rotation at the Fed's policy meeting in late January: Charles Evans of Chicago, Charles Plosser of Philadelphia, Richard Fisher of Dallas and Narayana Kocherlakota of Minneapolis.
In overnight news, Philadelphia Federal Reserve Bank President Charles Plosser said in a speech in Tokyo the Fed should start winding down its bond-buying program (quantitative easing) and be completely done with it by the end of the year.
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The latest round of FOMC minutes showed more discussion on the state of the economy, more debate on whether or not further accommodation was needed, and the dissent of three Fed Governors, Richard Fisher, Narayana Kocherlakota, and Charles Plosser.
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Federal Reserve Bank of Philadelphia president Charles Plosser said in Italy Thursday that the central banks of the world cannot create wealth and said central banks do not have the tools to fix the present economic and financial problems in the major industrialized countries.
Philadelphia Fed President Plosser does not seem to think so and believes that the Fed may need to raise interest rates sooner than 2015 if the economy starts to grow at a faster rate than the grinding pace that the Fed is currently forecasting.
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