Fed's low rate pledge "inappropriate": Fed's Plosser

http://finance.yahoo.com/news/Feds-low-rate-pledge-rb-3871206875.html?x=0&sec=topStories&pos=6&asset=&ccode=

NEW YORK (Reuters) - Philadelphia Federal Reserve President Charles Plosser on Wednesday said he disagreed with the Fed's decision to promise to keep interest rates low for another two years because policy should be dictated by the economy rather than a timeline.
"It was inappropriate policy at an inappropriate time," Plosser told Bloomberg Radio.
"Policy shouldn't be dependent on the calendar, it should be dependent on the economy," he later added.

http://www.tradersedgeindia.com/elliott_wave_theory.htm  Wave Theory, scroll down, I think we are completing a 4th wave in next day or so.

D