Fed's Plosser wants rates at 3 pct by end of 2015 - spokesperson

March 25 Tue Mar 25, 2014 10:39am EDT

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March 25 (Reuters) - Philadelphia Federal Reserve Bank President Charles Plosser believes the Fed should aim to raise short-term rates to 3 percent by the end of 2015 and 4 percent by the end of 2016, a Philadelphia Fed spokeswoman said.

The spokeswoman said Plosser misspoke earlier in the day in an interview with CNBC. In the CNBC interview, Plosser said he thought a 3-percent rate by the end of 2016 would be appropriate. (Reporting by Ann Saphir; Editing by Chizu Nomiyama)

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