“Recap” in this case means I missed these when they came out but have them now


But … he didn’t say much …

Via Reuters … Minneapolis Federal Reserve Bank President Narayana Kocherlakota:

  • The Federal Reserve is better off using its discretion when determining monetary policy rather than following a pre-determined rule

Kocherlakota at the annual American Economic Association conference, asked if a central bank should be required to follow a pre-specified rule when setting the level of monetary accommodation.