Fed's Plosser warns against U.K.-style inflation

WASHINGTON (MarketWatch) 

The United States does not want to find itself in the same place as the United Kingdom, where despite high jobless rates, and forecasts from the Bank of England, the country has had elevated inflation for over three years, Philadelphia Fed President Charles Plosser said in front of the CFA Society of San Diego Plosser was one of four Fed members who spoke in the Golden State on Tuesday One of the more hawkish members on the Fed who has dissented from the "late 2014" language as to how long ultra-low rates will be kept, Plosser continued to press for a reaction function that will show how policy will adjust to changes in economic conditions"This will not only enhance transparency but also impose an important discipline on policymaking," he saidsser warns on too-big balance sheet