I had the headlines up earlier from Minneapolis Federal Reserve Bank President Narayana Kocherlakota, who dropped dovish comments just like a real dove drops … no wait … I might need a different metaphor … BRB
The Wall Street Journal have an (ungated) piece up with a recap of Kocherlakota’s comments, who was speaking in Rapid City, S.D.. (‘Rapid City’ – that’s an awesome name for a place, love it.)
- “Just because unemployment is falling that’s not a reason to raise rates”
- “There is no harm in having low unemployment in the country except in so far as that generates wage pressures and that shows up in inflation. But I don’t see that in my inflation outlook.”
- “it would be inappropriate for the FOMC to raise the target range for the fed funds rate at any such meeting” that’s scheduled for 2015
More at the article, well worth following up.
Ahhh, no .. I don’t know if this is a Photoshopped image. If it isn’t I have no idea what he is trying to tell us to do. No idea at all.
