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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Featured

Charles Plosser On Fed: Don't Find There's A Compelling Case For Rate Cuts At This Point

interview with Charles I. Plosservia Fox Business
Thursday, July 11, 2019

Hoover Institution fellow Charles Plosser discusses the economy, the potential for a Federal Reserve interest rate cut, the impact of China trade tensions, Federal Reserve Chair Jerome Powell's testimony on Capitol Hill, the Fed's inflation target, and USMCA.

Interviews

We Must Break Up Fed Groupthink, Says Former Philly Fed President Charles Plosser

interview with Charles I. Plosservia CNBC
Wednesday, May 8, 2019

Hoover Institution fellow Charles Plosser discusses whether a trade war between the US and China could force the central bank to step in as well as his thoughts on the path the Fed is taking and the problems with groupthink.

Interviews

Charles Plosser: Fed Faces Skepticism Over Proposals To Improve Monetary Strategy

interview with Charles I. Plosservia Bloomberg
Sunday, May 5, 2019

Hoover Institution fellow Charles Plosser discusses the need for the Fed to sync their strategy with communications, and whether the central bankers have the will or the way to implement the fresh strategies they outlined.

Federal Reserve building
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A Cautionary Note On Price-Level Targeting

by Charles I. Plosservia Defining Ideas
Wednesday, May 1, 2019

A brief meditation on some strategies for the Fed

Interviews

Charles Plosser: Fed Overreacted In Their Dovish Signals

interview with Charles I. Plosservia Bloomberg
Wednesday, March 27, 2019

Hoover Institution fellow Charles Plosser discusses the Fed’s dovish tilt, his theory on real business cycles, whether rate cuts can be a policy mistake, modern monetary theory, ECB monetary policy, and negative interest rates.

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Some Thoughts On International Monetary Policy Coordination

by Charles I. Plosservia Economics Working Papers
Tuesday, January 23, 2018

Economics Working Paper WP18101

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Why The Fed Should Only Own Treasuries

by Charles I. Plosservia Defining Ideas
Saturday, June 10, 2017

A way to protect Fed independence and the integrity of fiscal policy from political pressure.

Central Bank Governance And Oversight Reform: A Panel Discussion

by Michael D. Bordo, John H. Cochrane , Charles I. Plosser, John B. Taylor, Kevin Warsh
Tuesday, December 6, 2016

The Hoover Institution hosted "Central Bank Governance & Oversight Reform: A Panel Discussion" on Tuesday, December 6, 2016 from 10:00am - 12:00pm EST.

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Argentina Redux?

by Charles I. Plosservia Defining Ideas
Tuesday, July 26, 2016

Congress is undermining the Federal Reserve’s independence by using it as a piggy bank.