Charles Plosser is former president of the Federal Reserve Bank of Philadelphia
He was interviewed on Thursday:
- "I think the Fed needs to be careful and not overreact to short-term events
- The FOMC "should keep the focus on the longer term"
And, Plosser has loosened his tongue a little on markets looking for support from the central bank:
- "The less the Fed says about [the selloff] the better, because it creates the impression that monetary policy is responsible for markets, which it's not,"
Can I get an Amen? (Although an Eamonn will do :-D )
Charlie thought it was funny.
