Philly Fed president Charles Plosser reiterated his call for a "systematic plan" for the central bank to withdraw the massive monetary stimulus it has engaged in since the financial crisis. Plosser has been saying for awhile now that by disclosing exactly what it intends to do, the Fed would reduce uncertainty in the market.
Plosser made his latest comments in a speech given in Helsinki Monday. And this pitch by a voting member of the Federal Open Market Committee comes during the month when the Fed's QE2 bond-buying program is slated to end and some are anticipating that weak economic growth could encourage the Fed to launch QE3.
Here's the Bloomberg report on the speech.
Merck & Co. and GlaxoSmithKline say they'll lower prices for vaccines to protect children in some of the world's poorest nations against potentially deadly diarrhea. This is an effort organized by the Gavi Alliance, founded by Microsoft founder Bill Gates. Here's Bloomberg's story on that effort.
Closer to home, this will be a big week for City Council, which will consider Mayor Nutter's call for a tax on sodas and other sugary drinks and a measure requiring employers to provide mandatory sick leave. Read the Inquirer's Jeff Shields story from the weekend on how much the soft-drink industry has given to council candidates in response to the possible "soda tax."
Far from feeling under the weather, I'm just hoping we didn't use up all of our "good weather" credits for the rest of June after the weekend's perfect conditions.