Plosser: Recent Stimulus Will Hurt the Fed's Credibility

(via Mark Thoma)

Maybe Fisher, Plosser and the other guy with the alphabet soup name drew short straws at a meeting of the FOMC. Maybe they're all in agreement but they drew straws to decide who would go out and give public speeches which reflect Republican wishes for inaction in order to avoid drawing political heat and maintain independence. Makes as much sense as the notion that they actually believe what they are saying.