- Kocherlakota spoke to a ‘town hall’ meeting in La Crosse, Wisconsin
- He doesn’t have a vote on the FOMC this year
- He is at the ‘dovish’ end of the policy spectrum and has repeatedly called for more Fed stimulus, today was no different
- Earlier headlines
Said:
- The Federal Open Market Committee’s “own forecasts suggest that it should be providing more stimulus to the economy, not less,”
- “The Committee is failing to provide sufficient stimulus to the economy,”
- “So far, we have not communicated effectively” the Fed’s intentions, he said. “That uncertainty is contributing to some of the upward pressure on interest rates.”
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There has been pretty much no movement in FX markets today in response to Kocherlakota.
