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Fedspeak Highlights: Plosser on Inflation Worries

Charles Plosser, president of the Federal Reserve Bank of Philadelphia, resumed a hawkish tone today after the central bank’s aggressive rate cuts last month. In a speech to the Birmingham Rotary Club in Alabama, Mr. Plosser said he expects a weak economy in the first half of this year (growing at a 1% rate) before recovering in the second half. But he devoted much of his speech to concerns about inflation. He expects core inflation (excluding food and energy) to remain between 2% and 2.5% this year, above his target. Mr. Plosser, a voter on the F…
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