“Interest rates will be rising…the federal funds rate should be permitted to rise with them”
On a side note, Philadelphia Fed President Plosser (who will not be a voting FOMC member until 2011) said: "Looking ahead, I see an economy that will be growing over the next two years, which means real interest rates will be rising… the federal funds rate should be permitted to rise with them." He said that higher rates may be needed before the unemployment rate and resource utilization return to desirable levels.