LONDON, March 6 It will be at least two more
months before U.S. data will not be distorted by the recent icy
weather conditions, one of the Federal Reserve's top
policymakers said on Thursday.
Speaking ahead of Friday's non-farm payrolls data,
Philadelphia Fed President Charles Plosser stressed he had no
information on the numbers, but that the chilly February when
the numbers were collected meant they were open to potential
"I think it is going to be a couple more months before all
the noise of the weather gets filtered out," he said. "Let's be
patient and take a longer-term horizon view."
Plosser also said that though the tug-of-war between Ukraine
and Russia over Crimea would add volatility to financial
markets, it should not have any significant impact on the U.S.
economy or the Fed's policy plans.
"I don't see it (Ukraine) as terribly fundamental to how the
U.S. economy evolves."
Plosser, an avowed policy hawk who has opposed the Fed's
super-easy monetary policies and votes on Fed policy this year,
stuck to his view that the central bank needed to clearly spell
out how it plans to return to a more normal policy setting.
He has long been a proponent of rules-based monetary policy,
an approach that has come under attack by some core members of
the Fed's policy-setting panel.
"You have to commit to following through with it (reaction
function)," Plosser said. "And when you deviate, you have to
(for story on earlier speech by Plosser click
(Reporting by Marc Jones and Sudip Kar-Gupta)