Plosser: Fed overstepped in buying mortgage-backed securities
Federal Reserve Bank of Philadelphia CEO Charles Plosser is not a fan of the Fed buying mortgage-backed securities. In a speech to the Global Society of Fellows of the Global Interdependence Center in Paris, Plosser said central banks should be wary of continuing down a path in which they step too far into the zone of taking on fiscal policy. He cited the Fed's effort to assist the fledgling housing market through the acquisition of mortgage-backed securities as one example.
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