US Fed heads debate slow growth ‘riddle'
Using monetary policy to offset "permanent shocks" to the economy is "ineffective and perhaps even counterproductive," Federal Reserve Bank of Philadelphia president Charles Plosser argued during a panel discussion on Saturday featuring several heads of regional US reserve banks.
The discussion, moderated by former Bank of Israel governor Stanley Fischer, who is now a leading candidate for the number two spot at the Fed under Janet Yellen, was a reminder of the conflicting views among policy
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