Discuss Commodities and Stock Market Indices: ""It's time that we begin to gradually unwind [QE and zero rates]," said Philadelphia Federal Reserve president Charles Plosser – a voting member of the Fed's policy committee at alternate meetings in this year – on Thursday.
But markets have "over-reacted" to talk of tapering the Fed's $85 billion in monthly QE, he said.
"The markets seem to take this very seriously at some level, which I think is probably a mistake."
The Federal Reserve has said it will only consider raising interest rates when the jobless rate falls below 6.5%."
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