Philly Fed’s Plosser on limitations of monetary policy
Charles Plosser, the president of the Philadelphia Federal Reserve, on Monday said more active use of monetary policy will provide only limited benefits to the economy and could do more harm than good in the long run.
Speaking at conference at the Central Bank of Chile in Santiago, Plosser said: "The notion persists that activist monetary policy can help stabilise the macroeconomy against a wide array of shocks, such as a sharp rise in the price of oil or a sharp drop in the price of housing. In
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