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The Federal Reserve Bank of Philadelphia President Charles Plosser said on Thursday called on the Fed to raise its interest rate "sooner rather than later". He added that interest rate should not "necessarily be increased now".
Plosser also said that interest rate could begin to rise "sooner than previously anticipated", and the Fed should "prepare the markets for the fact that interest rates may begin to increase sooner than previously anticipated". He pointed out that the Fed have to adjust its policy guidance due to "significant progress" in U.S. inflation and employment.
Plosser expects about 3% GDP growth for the rest of this year and next year.
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