Charles I. Plosser, former president and chief executive officer of the Federal Reserve Bank of Philadelphia, has died. Plosser led the institution from 2006 until his retirement in 2015.
During his tenure, Plosser guided the Philadelphia Fed through significant economic challenges, including the global financial crisis and Great Recession. He worked with colleagues on the Federal Open Market Committee (FOMC) to help determine policies aimed at stabilizing the financial system and supporting economic recovery.
Plosser was recognized for advocating that the Federal Reserve adopt an explicit inflation target, a policy which was implemented by the FOMC in January 2012.
In addition to his leadership roles, Plosser contributed to economics through research papers, board service, and lectures around the world on topics related to economics and public policy.
“We are deeply saddened by the passing of Charles I. Plosser, who served as president and chief executive officer of the Federal Reserve Bank of Philadelphia from 2006 until his retirement in 2015. Our thoughts and heartfelt sympathy are with his family at this difficult time,” stated a release from the Philadelphia Fed.
“Charles will be remembered for his dedication to public service and stewardship of the nation’s economy. His leadership and contributions have made a lasting impact on the work of the Philadelphia Fed and Federal Reserve System.”
“He led the Philadelphia Fed during the global financial crisis and Great Recession and, with his colleagues on the Federal Open Market Committee (FOMC), helped shape the actions the Fed took to stabilize the financial system and promote economic recovery. Charles was also an advocate of the Federal Reserve adopting an explicit inflation target, which the FOMC did in January 2012.”
“During his lifetime, Charles wrote influential research papers, served on numerous boards, and lectured worldwide on topics related to economics and public policy, making significant contributions to the field.”
“The Philadelphia Fed extends its sincere condolences to Charles’s family, friends, and colleagues.”
