The exit strategy principles the Federal Open Market Committee suggested in June 2011 are still valid, and Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said Tuesday, especially using the federal funds rate as the main policy instrument.

"Eventually, economic conditions will improve enough that the Fed will need to begin exiting from this period of extraordinary policy accommodation and start normalizing the monetary policy operating framework, Plosser said in a speech in Beijing, China, according to prepared text released by the Fed.

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