“I don’t see raising the target range for the Fed funds rate in 2015” – Fed’s Kocherlakota

FXStreet (Mumbai) – In a speech in Montana, the President of the Federal Reserve Bank of Minneapolis Narayan Kocherlakota said on Thursday, an interest rate hike this year would miss the opportunity to boost employment and inflation in the still fragile US economy.

Kocherlakota is known for his dovish views at the extreme end of the US Federal Reserve policy-setting committee (FOMC).

Key Quotes:

The FOMC “needs to make policy choices that will lead to more great years like 2014,”

“I don’t see raising the target range for the Fed funds rate above its current low level in 2015 as being consistent with the pursuit of the kind of labor market outcomes that we are charged with delivering.”

In a speech in Montana, the President of the Federal Reserve Bank of Minneapolis Narayan Kocherlakota said on Thursday, an interest rate hike this year would miss the opportunity to boost employment and inflation in the still fragile US economy.

(Market News Provided by FXstreet)