Kocherlakota “bows out”. Unfortunately there´s a nice stock of “substitutes”, with next year voting president Lacker already having shown his “Stooge” credentials.
This from Kocherlakota:
While a cooling in inflation joined with a rise in the unemployment rate “would be an argument for further accommodation,” Federal Reserve Bank of Minneapolis President Narayana Kocherlakota noted the tradeoff between price pressures and long-term unemployment “might well cost us too much” if further easing were put in place.
So don´t complain, “we´re getting it cheap” as is!
HT Patricia Stefani