Plosser the hawk

Plosser, Dissenting Fed Voter, Says Price Stability Is Priority By John Brinsley March 28 (Bloomberg) — Federal Reserve Bank of Philadelphia President Charles Plosser, who voted against this month’s interest-rate cut, said keeping inflation in check is the “most effective” way of ensuring economic growth and job creation. “Price stability is not only a worthwhile […]

3 mo libor down to 4.44%

3 mo libor is now for all practical purposes is ‘under control’ and down about 50 bp since the last Fed meeting. Market function risk seems to be behind us, and the talk has now shifted to weakness due to softer demand. The question is what level of demand is consistent with ‘price stability’. In […]