On Air Now

Tune in to Listen

99.9 FM Hibbing, MN

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
68° Feels Like: 68°
Wind: N 13 mph Past 24 hrs - Precip: 0.1”
Current Radar for Zip

Today

AM Showers/Wind 74°

Tonight

Mostly Clear 52°

Tomorrow

Partly Cloudy 75°

Alerts

Plosser worries Fed could face losses on assets

A view shows the Federal Reserve building on the day it is scheduled to release minutes of the Federal Open Market Committee from August 1,
A view shows the Federal Reserve building on the day it is scheduled to release minutes of the Federal Open Market Committee from August 1,

AVONDALE, Penn. (Reuters) - When the Federal Reserve eventually begins to sell some of the assets it has accumulated over the last few years it risks logging losses if longer-term interest rates are rising, a top central bank official said on Thursday.

Philadelphia Fed President Charles Plosser said there is a political risk if the central bank ends up selling the longer maturity assets in its portfolio at a loss.

(Reporting by Jonathan Spicer; Editing by Leslie Adler)

Comments