"I would prefer us to begin raising rates sooner
and raising them more gradually," Philadelphia Fed President
Charles Plosser told network CNBC in an interview from a central
bank symposium in Jackson Hole, Wyoming.
He said waiting too long to hike rates increased the risk the
Fed will have to raise them "very quickly in response to a
stronger economy and perhaps more inflation."
Asked if he believed it were true that there was significant
underutilization of labor market resources, as the Fed asserted
last month in a policy statement, Plosser said: "I don't think
(Reporting by Jason Lange in Washington; Editing by Chris Reese)
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