Reuters has a good profile of Minneapolis Fed President Kocherlakota today and why he recently shifted to the extreme dovish side of the spectrum.
It has been branded as some kind of dramatic turnabout but I find it refreshing to have a central banker that can change his mind, unlike Fisher and Lacker who have been dogmatically hawkish (and wrong) for years.
Anyone who trades forex knows you need to change sides every so often.
It’s also not unusual for Kocherlakota. He changed his mind on QE2 and that marked the tipping point. He’s also one of the youngest central bankers and has a good chance to be Fed President one day.
Bonus: he was raised in Canada and watches “a totally embarrassing amount of sports on TV.” Sounds like my kinda guy.
