- Inflation is too low, unemployment is too high, and the Fed is being too hasty in removing stimulus, says Minneapolis Fed boss Kocherlakota. "An unemployment rate of 6.7% means that the U.S. labor market is far from healthy," he says, "but I would say that this measure - troubling as it is - could well overstate the degree of improvement in the U.S. labor market."
- Kocherlakota was the sole dissenter at the last FOMC meeting, when the group voted to taper further and signal a hike in the Fed Funds rate in H1 of 2015.
- At this point December 2015 Eurodollar futures are pricing in just a bit more than three 25 basis point hikes in the Fed Funds rate between now and then. At the long end, the 10-year Treasury yield is off two basis points on the session to 2.68%.
- TLT +0.25%, TBT -0.5%
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Kocherlakota: FOMC moving too fast on taper
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