“Philadelphia Federal Reserve President Charles Plosser is “very worried” about the potential for unintended consequences of the Fed’s massive quantitative easing program. Plosser told CNBC that the U.S. was still suffering from “lasting effects” of the recession and “may never return” to its previous growth rates – and warned that policy should not bet on growth returning to previous rates, saying it could be “many, many years”. Here is a direct video link.
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