Plosser Says Weaker Data Don’t Yet Justify More Fed Stimulus

Federal Reserve Bank of Philadelphia President Charles Plosser said it’s too soon for the Fed to bolster record U.S. monetary stimulus in response to slower-than-forecast gains in economic growth and employment.

“Talk of new efforts to stimulate the economy are premature right now,” Plosser said yesterday in an interview with Bloomberg News in Washington. “I don’t think the data have been sufficiently compelling one way or another.”