Fed official eyes change in policy signals

Plosser says forward guidance policy now 'too passive'.

Employment and inflation in the US are likely closing in on the Federal Reserve's goals faster than expected, which may soon force the central bank to alter its policy signals, a top Fed official said Tuesday.

In a speech before the Economic Club of New York, Federal Reserve Bank of Philadelphia President Charles Plosser expressed concerns about the way the Fed is currently guiding the public about the future path of the policy rate, calling the so-called forward guidance "too passive."

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