Philly Fed hawk Charles Plosser speaks on the economic outlook in Washington. He will add further comments later when he speaks with reporters.

  • 6.2% unemployment rate for year end may be too pessimistic
  • Sub-6% by year end certainly plausible
  • Q1 weather doesn’t change his 3% forecast for 2014
  • Sees ‘significant improvement ‘ in labor market
  • Economy on firm footing, underlying details are more encouraging than in recent years
  • Long-term risks to inflation due to years of loose policy

The hawkish comments have pushed Treasuries to the highs of the day but it’s no surprise to hear talk of rate hikes from Plosser, who is the most hawkish Fed member. At the top of the hour, the Fed’s Dudley speaks.