Philly Fed's Plosser Says Rates Should Be Lifted Sooner Than Later

Repeating a familiar message, Philadelphia Fed President Charles Plosser said interest rates should be raised "sooner rather than later." In a speech in London, Plosser said rising rates are not inconsistent with a continuing recovery. "We are closer to our goals than we have been in quite some time. The stance of monetary policy should reflect such progress," he said. Plosser, one of the more hawkish members, has a vote on this year's Federal Open Market Committee.