Fed's Plosser Says Last FOMC Statement was 'Overly Pessimistic'
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Currently speaking to CNBC's Steve Leisman, Philly Fed President Charles Plosser called the FOMC's latest statement "overly pessimistic." The Fed head believes holding rates pat til 2013 would be a mistake.
Plosser argues the largest impact from the crisis in Europe on American's is "uncertainty," and that US businesses are "frozen" with this uncertainty.
The Fed Pres sees a "long, slow log for the US recovery.
Plosser argues the largest impact from the crisis in Europe on American's is "uncertainty," and that US businesses are "frozen" with this uncertainty.
The Fed Pres sees a "long, slow log for the US recovery.
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