Federal Reserve ‘s Plosser on CCNBC, comments hitting the wires:

  • Says he is concerned that monetary policy is not reacting to change in data
  • Says Fed is running a risky policy by not moving off zero bound
  • Favours raising rates sooner and more gradually
  • Says its not wise to make wages the centrepiece of monetary policy
  • Doenst think there is a significant underutilization of labor market resources

Charles Plosser is president of the Federal Reserve Bank of Philadelphia