1 vote

Monetary Policy Is Not Loose Enough: Fed Official

Modest U.S. growth will keep inflation in check and means the Federal Reserve should ease monetary policy further to bring the rate of U.S. unemployment down at a faster pace, a senior U.S. central banker said on Wednesday.

Minneapolis Fed Bank chief Narayana Kocherlakota, one of the more dovish members of the Fed's policy-setting committee, also repeated his view that the best way to boost the economy was to lower the Fed's jobless rate threshold on interest rate guidance to 5.5 percent.

"My outlook for unemployment and my outlook for inflation both point to a need for more accommodation than is currently being provided by the FOMC," he said in prepared remarks to local business groups in Edina, Minnesota, referring to the Federal Open Market Committee.

MORE|SOURCE
http://www.cnbc.com/id/100597447



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
bigmikedude's picture

Translation:

We CEO's and Bankers are hurting as bad as you.

We may even become unemployed ourselves if we cannot please our stockholders.

Don't you peasants realize what the freakin' payment is on a Benz, Porsche, a 10,000 Sq. Ft home, and a vacation home in the Bahamas with all the boats and water toys?

Just the guy in the bathroom alone with the towel and white gloves that shakes it for us when we're done is $80,000 a year...

C'mon people, have a heart, help us out here.