24 Jun 2014
Fed's Plosser sees a broad-based recovery in the US
FXStreet (Łódź) - Fed's Plosser sees a broad-based recovery in the US Philadelphia Fed president Charles Plosser said on Tuesday that US job creation and growth could exceed expectations this year, bringing the first rate hike closer.
Plosser saw US GDP exceeding 2.4% in 2014, and then falling slightly in 2015. Unemployment is expected to drop to 5.8% by the end of this year and to 5.6% by the end of the next.
The Fed policymaker added that inflation seems to be firming. "The current data suggest economic strength is fairly broad-based," he stressed.
Plosser saw US GDP exceeding 2.4% in 2014, and then falling slightly in 2015. Unemployment is expected to drop to 5.8% by the end of this year and to 5.6% by the end of the next.
The Fed policymaker added that inflation seems to be firming. "The current data suggest economic strength is fairly broad-based," he stressed.