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Fed Is Going In Wrong Direction, Should Ease Policy: Kocherlakota

Faced with high U.S. unemployment and stubbornly low inflation, the Federal Reserve should be ramping up, not scaling back, its monetary stimulus, a top Fed official said on Thursd... More Faced with high U.S. unemployment and stubbornly low inflation, the Federal Reserve should be ramping up, not scaling back, its monetary stimulus, a top Fed official said on Thursday. The U.S. central bank, charged by Congress to aim for an economy that has enough jobs and also stable prices, "could do better with respect to both of its congressionally mandated objectives by adopting a more accommodative monetary policy stance," Narayana Kocherlakota, president of the Minneapolis Federal Reserve Bank, said in remarks prepared for delivery at the regional bank's headquarters. Less

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