Federal Reserve Bank of Philadelphia President Charles Plosser is questioning the central bank's practice of publicly assessing the "balance of risks" between growth and inflation. In an interview with The Wall Street Journal, Plosser said the tactic might convey too much confidence about where interest rates were headed. "The circumstances have focused my attention on this language issue, particularly the balance of risks, and I suspect people are struggling right now with, 'Okay, maybe we have to think through this a little more carefully than we had before,'" he said.

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