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Plosser: Friday's jobs report an outlier

  • Philadelphia Fed chief Charles Plosser wants QE over by the end of this year, and the weak December payroll report didn't alter that view, he says, noting the soft print was likely a result of the weather (cold, who knew!).
  • He expects the headline unemployment rate will decline to 6.2% by year's end and inflation will edge up near to near the Fed's 2% target. " I believe the economy has met the criteria of significant improvement in labor market conditions for ending the program and that further increases in the balance sheet are unlikely to provide appreciable benefits for recovery."
  • Plosser is a voter on the FOMC this year.