Kocherlakota explains dissent from FOMC decision to end asset purchases
Kocherlakota says downside risks to inflation outlook ‘worse' than a year ago
Narayana Kocherlakota, the Federal Reserve Bank of Minneapolis president, today explained his dissent from the Federal Reserve's Open Market Committee (FOMC) decision to end monthly asset purchases and retain its forward guidance of the Federal funds rate.
Kocherlakota said in a statement that he "felt that the FOMC needed to reduce possible downside risk to the credibility of its 2% inflation target by taking more purposeful steps to move inflation back up".
He warned the medium-term outlook
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