Charles Plosser, president of the Philadelphia Federal Reserve Bank, told Tom Keene and Sara Eisen on "Bloomberg Surveillance" that "we've dug ourselves a very large hole" and that "when I've weighed the costs and benefits of this [quantitative easing] policy, I've decided that the costs outweigh the benefits."
Plosser also said that it is "disturbing" to him that "more and more is being expected of central banks." He said, "We are expected to solve all the world's problems. Our fiscal authorities are not doing a very good job in any country."
