Fed's Plosser dissents over unchanged forward guidance in face of US 'rebound'

The Federal Open Market Committee

The Federal Open Market Committee (FOMC) saw its first 'hawkish' dissent under Janet Yellen yesterday, as Philadelphia Fed president Charles Plosser objected against the FOMC's vow to keep interest rates low for "a considerable time" after wrapping up its quantitative easing programme.

The FOMC's statement, which is delivered immediately after the decision, suggested members are becoming more optimistic about the US economy, as growth roared back in the second quarter following a contraction ear

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