Philly Fed President Charles Plosser is a voter this year and one of the most hawkish members of the FOMC. He’s speaking in Philadelphia but so far the comments are mundane:

  • Fed ‘challenges are numerous’

Update:

  • ‘Inflation target is secure’
  • Reiterates concerns about Fed’s balance sheet
  • Concerned more with too-high inflation rather than too low, given excess bank reserves
  • Warns interest rates could rise ‘fairly quickly’ if banks quickly release reserves
  • Fed often late when starting to tighten