Plosser: Regular monetary reports would force FOMC to ‘think more deeply’

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If the Federal Reserve published a monetary policy report on a regular basis it would force Federal Open Market Committee (FOMC) members to "think more deeply and systematically" about policy, Charles Plosser said last night.

Plosser, the Federal Reserve Bank of Philadelphia president, is an outspoken advocate for reform at the Fed. He believes it should adopt a more rules-based approach to monetary policy and start publishing a quarterly report that would provide "added discipline" for the FOMC

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