Description
Philadelphia Federal Reserve Bank President Charles Plosser speech on the economic outlook to the 34th Annual Economic Seminar Rochester, NY.

Highlights
Philly Fed President Charles Plosser repeated his economic outlook. He anticipates that the pace of economic growth will pick up somewhat, to about 3 percent in 2013 and 2014. He stated that this level of growth should allow for continued improvements in labor market conditions, including a gradual decline in the unemployment rate. While expecting improvement in economic growth, Plosser sees risks to the economy, including a slowing in U.S. exports, fiscal issues in Europe, and uncertainty about fiscal policy in the U.S.