This is what he said last month:
"(M)y outlook implies that monetary policy is currently not accommodative enough," Kocherlakota said, forecasting unemployment, now at 7.7 percent, to fall only slowly to 7 percent by the end of 2014, and for inflation to continue to lag below the Fed's 2-percent target. "Monetary policy should be more accommodative."
This is what he said last year:
"So, what has been happening with inflation? Inflation was distinctly higher in 2011 than in 2010 and continues to run above the FOMC’s target of 2 percent. Even core measures of inflation, which strip out energy goods and services, and food, went up notably. I see these changes as a signal that our country’s current labor market performance is much closer to “maximum
employment,” given the tools available to the FOMC, than the post-World War II U.S. data alone would suggest. As I’ve argued in the past, appropriate monetary policy should be responsive to such signals."
"(M)y outlook implies that monetary policy is currently not accommodative enough," Kocherlakota said, forecasting unemployment, now at 7.7 percent, to fall only slowly to 7 percent by the end of 2014, and for inflation to continue to lag below the Fed's 2-percent target. "Monetary policy should be more accommodative."
This is what he said last year:
"So, what has been happening with inflation? Inflation was distinctly higher in 2011 than in 2010 and continues to run above the FOMC’s target of 2 percent. Even core measures of inflation, which strip out energy goods and services, and food, went up notably. I see these changes as a signal that our country’s current labor market performance is much closer to “maximum
employment,” given the tools available to the FOMC, than the post-World War II U.S. data alone would suggest. As I’ve argued in the past, appropriate monetary policy should be responsive to such signals."
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