Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis, is speaking on monetary policy. he is responding to questions from the audience.
More headlines via Reuters :
- Long-run level of unemployment could be lower than 5 pct
- I don’t want to end up where Europe is in terms of low inflation
- Want to see core inflation move sharply up toward 2 pct before raising rates
- Will also look closely at what happens with wage growth
- Also want to see market-based inflation expectations rise before raising rates
- Decline in oil prices is a good thing, basically, for the US economy
- Decline in oil prices will have an impact on production, drilling in Bakken
- US economy can continue to grow even if global economy is weak
- Biggest challenge for US economy is whether Fed can be patient enough on rates
- You know I won’t be no stick-figure, silicone Barbie doll, so, if that’s what’s you’re into then go ahead and move along, Because you know I’m all about that bass
OK, I made that last one up. But I’m pretty sure that’s what he is thinking.
