Thursday, September 5, 2013

Fed's Kocherlakota says U.S. economy needs more stimulus

Federal Reserve Bank of Minneapolis President Narayana Kocherlakota, who has backed the Fed’s $85 billion in monthly bond buying, said the central bank’s outlook for inflation and unemployment calls for more accommodation.

The Federal Open Market Committee’s “own forecasts suggest that it should be providing more stimulus to the economy, not less,” Kocherlakota said in a speech yesterday at the University of Wisconsin in La Crosse. He doesn’t vote on monetary policy this year.


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