Inflation target may necessitate hasty QE exit, says Plosser

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The Federal Reserve may have to scale back its monetary accommodation "more aggressively than some think" if it is to hit its 2% inflation target in the medium term, according to Charles Plosser, the president of the Federal Reserve Bank of Philadelphia.

US inflation has run below its target of 2% in four of the last five quarters, but Plosser insisted this was not a concern in the near term as "inflation expectations remain fairly well anchored near our goal".

However, he pointed to a potential

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