Charles I. Plosser

Visiting Fellow
Biography: 

Charles I. Plosser served as the President and CEO of the Federal Reserve Bank of Philadelphia from 2006 until his retirement in 2015.

In his position he served as a member of the Federal Open Market Committee, which is responsible for U.S. monetary policy. During this period the world experienced a global financial crisis and a severe recession, requiring extraordinary action by monetary policymakers. He also served during a time of dramatic change in the activities of the Federal Reserve Banks including their role in financial services and the payments system as well as bank supervision. Among many other duties, he chaired the Committee on Investment Performance, which was responsible for oversight of the entire Federal Reserve System’s employee pension and thrift funds.

Prior to joining the Federal Reserve, Plosser was the John M. Olin Distinguished Professor of Economics and Public Policy and director of the Bradley Policy Research Center at the University of Rochester’s William E. Simon Graduate School of Business Administration where he served as Dean from 1993 to 2003. In 2004 he was a visiting scholar at the Bank of England. He is also a Research Associate at the National Bureau of Economic Research in Cambridge, Massachusetts. Over the years, Plosser has lectured to academic and business audiences worldwide on topics ranging from management education to economics and public policy issues. Prior to his public service at the Federal Reserve he also served as a consultant to numerous corporations on topics ranging from strategic planning and forecasting to portfolio and pension fund management, capital budgeting, and financial analysis. He was a member of the New York State Board of Economic Advisors and has served on the board of directors of ViaHealth, Inc. and RGS Energy Group, Inc. He has also served on the Advisory Board of the University Technology Seed Fund, LLC. In addition, he served as a director of the Graduate Management Admission Council from 1997 to 2003 and served as chairman of the board from 2002 to 2003.

Since January 2016, Plosser has served as a Public Governor for FINRA, the Financial Industry Regulatory Authority, where he serves on the Investment Committee and the Finance, Operations and Technology Committee.

Plosser earned his Ph.D. and M.B.A. degrees from the University of Chicago in 1976 and 1972 respectively. He is a 1970 graduate of Vanderbilt University where he earned a bachelor of engineering degree (cum laude with honors) and a member of Tau Beta Pi (National Scholastic Honor Society for Engineers). 

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Interviews

Powell Is Correct That Distorting Yield Curve Would Be Potentially Dangerous: Charles Plosser

interview with Charles I. Plosservia CNBC
Tuesday, March 23, 2021

Hoover Institution fellow Charles Plosser discusses what he expects to hear from Treasury Secretary Janet Yellen's and Federal Reserve chair Jerome Powell’s testimonies.

Interviews

Charles Plosser: Former Philadelphia Fed President: Coronavirus Spending Is Getting ‘Out Of Hand’

interview with Charles I. Plosservia Fox
Thursday, March 11, 2021
Hoover Institution fellow Charles Plosser provides insight into the COVID stimulus, inflation, debt, and the Federal Reserve.
In the News

Is Inflation Still A Thing?

quoting Charles I. Plosservia National Review
Friday, February 19, 2021

Not so long ago, during the age of Milton Friedman, the chief concern of monetary policy was inflation. The Federal Reserve’s job was seen as a balancing act: Too low a money supply would slow spending, and too much would erode purchasing power. Of course, given the inoculation of monetary economists against anything resembling deflation, we really only worried about erring in the other direction. Good monetary policy meant open-market operations to keep the money supply on a predictable path, which gives markets a stable foundation for short-term and long-term contracting, facilitating economic coordination.

Interest Rates
Interviews

Charles Plosser: 'A Bit Disappointed' With Fed's Statement

interview with Charles I. Plosservia Hoover Daily Report
Friday, September 18, 2020

Hoover Institution fellow Charles Plosser discusses the central bank's policy to hold interest rates near zero and signaled they would stay there for at least three years, vowing to delay tightening until the U.S. gets back to maximum employment and 2% inflation.

Interviews

Charles Plosser: Expecting Too Much From The Fed Leads To ‘Wrong Kind Of Risk-Taking’

interview with Charles I. Plosservia Yahoo! Finance
Friday, September 4, 2020
Hoover Institution fellow Charles Plosser talks about the August jobs report and the Fed’s recent announcement on inflation.
Interviews

Fed Needs To Regain Policy Control: Ex-Philly Fed President Charles Plosser

interview with Charles I. Plosservia Bloomberg
Tuesday, July 28, 2020

Hoover Institution fellow Charles Plosser examines the potential impact of large deficits on financial markets and the danger of “group think” at the Federal Reserve.

Federal Reserve
Interviews

Surveillance: Fed Policy With Charles Plosser

interview with Charles I. Plosservia Bloomberg
Tuesday, July 28, 2020

Hoover Institution fellow Charles Plosser says the Fed needs to declare its independence and regain control of monetary policy.

Interviews

Powell’s Communication Has Been ‘Erratic,’ Former Fed Official Charles Plosser Says

interview with Charles I. Plosservia CNBC
Wednesday, November 13, 2019

Hoover Institution fellow Charles Plosser discusses the Fed's “erratic” messages over the last few meetings, and the uncertainty the erratic messages have caused for the markets and investors.

Interviews

Charles Plosser: Fed's Communication Has Been Very Poor

interview with Charles I. Plosservia Yahoo Finance
Wednesday, October 30, 2019

Hoover Institution fellow Charles Plosser talks about the Fed reducing the interest rates by a quarter-percentage point for the third time this year as well as the Fed signaling a pause in further cuts unless the economic outlook changes materially.

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