Plosser, a leading Fed 'hawk,' to retire in March

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Washington • Charles Plosser, a leading inflation "hawk" at the Federal Reserve, says he will retire in March.

Plosser, who has been president of the Fed's Philadelphia regional bank since August 2006, has been among the leaders of the officials known as hawks for their concerns that a continuation of low-interest rate policies could ignite inflation.

He has dissented at the past two Fed meetings, when the central bank voted to maintain its plan to keep a key short-term rate at a record low for a "considerable time."

Plosser, 66, would have given up his vote on the Fed's policymaking committee next year as part of the normal rotation of votes among the regional bank presidents. And the rules governing the Fed's 12 regional banks would have required his retirement in 2016.