FOMC members discuss international spillovers of Fed monetary policy

The Fed's responsibility is to get the US economy back on course, say Plosser and Fisher

Charles Plosser

Members of the Federal Open Market Committee (FOMC) have hit the road in recent days to explain Fed policy abroad, amid increasing calls on the US central bank to consider the impact on other countries when setting its policies.

Charles Plosser, head of the Reserve Bank of Philadelphia, told a London audience yesterday that central banks with nationally defined mandates risk entering a "difficult road" the moment they start taking into account "international interests" – a term he said was

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