Hawkish Plosser to stand down from Fed

Hawkish Plosser to stand down from Fed. The Financial Times is reporting that, Charles Plosser, one of the US Federal Reserve's most noted hawks on monetary policy, will step down in March 2015 as president of the Philadelphia Fed. Mr Plosser frequently dissented in favour of tighter monetary policy during his eight years in office and his retirement could shift the balance of the rate-setting Federal Open Market Committee. Coming on top of the expected departure of another hawk early next year - Richard Fisher of the Dallas Fed is due to step down in April - it will weaken a faction of the FOMC that is pushing for earlier interest rate rises.