Fed's Plosser: Exit may come well before mid-2015 (by Greg Robb)
WASHINGTON (MarketWatch) - The Federal Reserve may have to raise short-term interest rates "well before" the current guidance of mid-2015, Charles Plosser, president of the Philadelphia Fed Bank, said Tuesday. Plosser, a so-called hawk who is concerned about inflation, presented a sharp critique of the central bank's decision earlier this month to launch a third round of asset purchases, known colloquially as QE3. He said the that further easing wasn't appropriate nor likely to be effective. In additions, the actions carry with them "significant risks" to the Fed's inflation fighting credibility, he remarked. Plosser was relatively optimistic about the economy, forecasting 3% growth in 2013 and 2014.