Fed's Plosser sees end-2016 funds rate at 4%, not 3%
WASHINGTON (MarketWatch) -- Charles Plosser, the president of the Philadelphia Federal Reserve Bank, on Tuesday clarified his interest rate forecast, saying he sees the federal funds rate at 4% at the end of 2016. Earlier in an interview on CNBC, Plosser said he projected the funds rate at 3% at the end of 2016. But CNBC said that Plosser contacted the network after the interview to amend his forecast. He said he sees the funds rate at 3% at the end of 2015, instead of his earlier comment of "two-something," CNBC said. Plosser is a voting member of the Fed's policy committee this year.