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Kathleen Hays: Plosser, Levy Urge Return to Pre-Emptive Fed Rate Moves

Hoover Paper Puts Coming Fed Framework Review in Spotlight. Welcome to Central Bank Central. I'm Kathleen Hays. We're going to take a look at the Federal Reserve. What a surprise on Central Bank Central. But, you know, as the debate rages on over what the Federal Reserve should and will do on its interest rate path this year, there's a very important debate, maybe a bigger debate raging already in the background.

After four years when the Fed led inflation get out of control, when it had to fight very hard with record-sized interest rate hikes that some would say washed over the banking system to a pretty large degree, what should the Fed do now? That's the question I'm putting before Charles Plosser. He is the former president of the Federal Reserve Bank of Philadelphia. He is also a visiting fellow at Hoover Institution at Stanford University.

His partner in this whole endeavor that we're going to talk about today is Mickey Levy, and Mickey is a visiting scholar at Hoover. So gentlemen, let's take a look at the paper you put together for the big monetary policy conference last week.

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Posted: May 10, 2024 Friday 03:35 PM