Mortgage - Free Calculators

Fed’s Plosser Calls Inflation Threat “Serious” and “An Insidious Tax on Consumers”

Speaking in an interview with CNBC, Philadelphia Fed President Charles Plosser said the inflation threat was "serious", and called it an "insidious tax on consumers".

Turning towards the credit crunch, the Philadelphia Fed President warned that financial markets were not out of the woods yet, adding that, "We're going to see some ups and down and bumps along the way." Nevertheless, he noted that things appeared to have improved over the last couple of months.