Former Philly Fed president Charles Plosser with some words of wisdom

  • There's a real problem here with the Fed

  • Fed considers the data but doesn't act

  • Central banks wring their hands all the time

  • Fed has created its own problems

  • There's dissent at the Fed because there's uncertainty

  • Dissent is helpful for the Fed

  • European banks are not as strong as those in the USUS banks are in

  • US banks are in pretty good shape

  • Fed is pretty good act conjuring up reasons not to act

  • Fed shouldn't be afraid that a recession might come

I wonder if he was this bolshie when he was in the hot seat?