Comments from Kocherlakota
- Fed aimed at slow recovery in order to reduce volatility of policy rate
- Adherence to Taylor rule slowed job creation
- Fed should put more weight on inflation and output gap forecasts
- Fed should change strategy in order to focus on returning economy to health faster
- Full text of the speech
This might be the final time we hear from Kocherlakota after he announced he's leaving the Minneapolis Fed. He's an unapologetic dove right to the end.
