Nrayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis, speaking at a Town hall event.
No surprises from Mr. K ... uber dove amongst uber doves.
- Keeping rates on hold in '15 will also boost jobs
- 2015 rate rise will delay achieving 2% inflation
- Will be several years before inflation above 2%
- Repeats his view fed shouldn't raise rates in 2015
Bloomberg with the headlines
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These are from his prepared text.
it's a 'town hall' event, so there'll be comments in response to questions later. I'm not sure on the extent of media coverage of these. But its Kocherlakota ... he is consistent in his dovish views so its hard to see how he can surprise us. He isn't going to call for a hike any time soon.
Kocherlakota is not a voter on the FOMC this year. He attends the meetings and participates in the deliberations... but doesn't get a vote.
He will be an 'alternate' member of the FOMC in 2016, which means he'll get a vote at the meeting if the head of the Kansas City Fed (Esther George, a voting member in 2016) is absent.
he'll be back as a voter in 2017.
