Plosser Says ‘I’m Worried’ Fed May Be Too Late in Raising Rates

Federal Reserve Bank of Philadelphia President Charles Plosser, who votes on policy this year, said central bank officials should focus on communicating the conditions under which interest rates will rise.

“I’m worried that we’re going to be too late” to raise rates, Plosser told reporters after a speech at the University of Delaware in Newark. “I don’t want to chase the market, but we may have to end up having to do that” if investors act on anticipation of higher rates.