Fed's Plosser advocates central bank independence

06/23/2010 | Bloomberg Businessweek

Charles Plosser, president of the Philadelphia Federal Reserve Bank, has indicated that he is uncomfortable with some of the central bank's decisions made during the global financial crisis. "Rather than seek ways to politicize the Fed, we should seek ways to ensure its independence from short-term political pressures while reducing the temptation to use the central bank as an inappropriate tool for conducting fiscal policy," Plosser wrote in the bank's latest annual report.

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