Federal Reserve’s Kocherlakota:
- Low inflation shows economy is running sub-capacity
- Says US economy ‘needs more inflation’
Added:
- Says labor market is very complicated
- Says part-time worker rate higher than normal
- 6.2% jobless rate is unacceptably high
- Says housing has been a disappointment in past year
- Says interest rates not low enough to spur demand
More:
Says asset purchases on track to end in October