• Better to raise rates too early than too late
  • Policy statement has put Fed “in a box”
  • Fed doesn’t know whether it can actually improve margins of labor market
  • Fed ‘mired’ in debate on labor market

Plosser spoke with Reuters. There’s almost nothing Plosser could say that would move markets. He’s the biggest hawk at the FOMC, he’s already dissented and he’s essentially marginalized.