Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis
Reuters with the headlines and story:
- Raising interest rates this year, as most Federal Reserve officials expect, would be "inappropriate" because it would delay the return of too-low inflation to the U.S. central bank's 2 percent goa
- Would also work against the Fed's other goal of full employment
- Kocherlakota's view seems increasingly out of the mainstream among Fed policymakers, nearly all of whom are open to rate hikes this year. Several are pushing for an increase as soon as June. The stronger labor market, these policymakers say, means the Fed ought to start tightening policy soon to prevent the economy from overheating
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Such comments are not a surprise from Mr. K., he is a very vocal 'dove'.
We'll be getting more headlines from Kocherlakota over the next hour or so