Federal Reserve’s Kocherlakota: Inflation is well below Fed’s goal

Federal Reserve’s Kocherlakota:

• Inflation is well below Fed’s goal, expected to stay there for several years
• US employment is low, expected to remain there for several years
• Results of the Federal Reserve’s monetary stimulus is ‘not as good as they should be’

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Kocherlakota is speaking at a ‘town hall’ forum at North Dakota State University, from a prepared text. He will then take questions from the audience.

Kocherlakota is president of the Federal Reserve Bank of Minneapolis, is a ‘dove’ and votes on the FOMC in 2014