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Tuesday, Jan 15
The formerly hawkish Minneapolis Fed chief Kocherlakota stakes out his position as the most...
The formerly hawkish Minneapolis Fed chief Kocherlakota stakes out his position as the most dovish of the FOMC. He says current policy isn't easy enough and calls for the Fed to lower its unemployment rate threshold - the trigger for tighter policy - to 5.5% from 6.5%. The speech is worth the read - an insight into the thinking of PhDs who believe tweaking a "communications policy" or altering some level of reserves can guide a $16T economy to the exact point they wish it to go.