Plosser says Fed will need to rapidly increase interest rates

09/3/2009 | CNBC

Charles Plosser, president of the Federal Reserve Bank of Philadelphia, said the central bank will need to aggressively increase interest rates to avoid fueling inflation. Plosser also said the Fed has an exit strategy for its emergency initiatives. "Our exit strategy is really quite simple: We have to begin to pull back from our extraordinary programs, we have to begin to shrink our balance sheet; otherwise we will feel inflation in the months and years ahead," he said.

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