Non voting Fed member Charles Plosser in a speech on the economy is saying, “Because I see little gain at this point, and some costs, I would prefer not to engage in further asset purchases at this time…Asset purchases in our current economic environment can do little if anything to speed up the return to full employment.” If one thing is for certain, the debate in the Fed leading into the Nov FOMC meeting will be heated over the decision whether to continue to push the envelope with monetary policy. While Plosser’s comments are welcome from my point of view, the voting members have a much more dovish slant.
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