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Fed's Plosser: Regional Fed Banks Promote Diversity of Views
By Michael S. Derby
PHILADELPHIA--Federal Reserve Bank of Philadelphia President Charles Plosser said the central bank's current, sometimes "awkward" structure is important to its successes.
Speaking on a panel in Philadelphia about economics at the regional Fed banks, of which there are 12, Mr. Plosser said the decentralized structure of the Fed helps avoid "the risk of falling into group think."
The official did not make forward looking comments about monetary policy and the economic outlook in his remarks.
Write to Michael S. Derby at email@example.com
(END) Dow Jones Newswires 01-04-141134ET Copyright (c) 2014 Dow Jones & Company, Inc.