Appeared on April 18, 2008
During a speech at Drexel's LeBow College of Business, Philadelphia Fed President Charles Plosser suggested that the fed funds rate may be low enough to support expansion as he said, "on the monetary policy front, the Fed's response to the deterioration of the economic outlook and the turmoil in financial markets has resulted in an accommodative level of real interest rates that should support the market forces that will bring economic growth back toward its long-term trend."