Plosser Expects 3% Economic Growth for fhe Rest of 2014

Federal Reserve Bank of Philadelphia President Charles Plosser says “the weakness in the first quarter is something we’ve been anticipating for a long time,” adding that harsh winter weather had a “very large” impact on the economy. *“I’m still thinking for the rest of the year” 3% economic growth is a “pretty good” estimate, Plosser says in a CNBC interview *“There’s a possibility” unemployment “may be below 6% by the end of the year if things keep going the way they have:” Plosser *“It’s hard to imagine” the yield on the 10-year U.S. Treasury note “will continue to fall:” Plosser *NOTE: Plosser votes this year on the Federal Open Market Committee

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