• Zero rates not designed to cut US debt burden
  • Fed should be held accountable if inflation is too high
  • Fed is very attuned to European crisis

The canned-goods and ammo crowd will take issue with Plosser’s characterization of the Fed’s stance on the dollar and on allowing the US government to finance its debts at super-low rates. Plosser, and others on the Fed will say those factors are a side effect of Fed policy, not the goal.