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15 Apr 2015
Fed's Kocherlakota: Raising rates in 2015 would be inappropriate
FXStreet (Bali) - Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis, is crossing the wires, via Reuters, noting that it would be inappropriate to raise interest rates in 2015.
Key Quotes
"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 goal. 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."
Key Quotes
"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 goal. 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."