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Philadelphia Federal Reserve Bank President Charles Plosser said he doesn’t currently see any need for additional monetary stimulus as the economy recovers.

“The economy’s doing better, we’re gaining some traction,” Plosser said in an interview with Bloomberg Television in Paris today. “We’re not entirely out of the woods. But I’ve got some cautious optimism. If the economy evolves as I think it will, barring some extraordinary events, I don’t think there’ll be any need for further accommodation or further QE.”

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