Fed Official Explains Why He Didn’t Back Fed’s Late 2014 Rate Pledge

Unfortuantely, Philadelphia Federal Reserve Bank President Charles Plosser isn't a voting member on the FOMC this year. Nevertheless, all Fed presidents are able to debate in the FOMC meetings. This Bloomberg article reviews a speech given by Plosser which describes why he didn’t support the Fed’s decision last month to extend the time frame for low rates at least through late 2014.