Thursday, January 9, 2014

Don't go all weak knee on us, Narayana

WSJ: NEW YORK–Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Thursday evening weak inflation and “too high” levels of unemployment argue in favor of the central bank doing more to help the economy.
But at the same time, the incoming voting member of the monetary-policy setting Federal Open Market Committee also expressed qualified support for pulling back on the Fed’s bond-buying program. Mr. Kocherlakota is one of the Fed’s most consistent supporters of aggressive action to aid the economy, and he has stood apart from many of his colleagues and called for additional forms of action to boost employment at a time where the Fed has taken concrete steps toward lowering its level of support for the economy.

The boy is a bit unsure of himself, and its damn cold in Minneapolis. He doesn't like the future migration patterns emptying out the Northeast; Illinois and Detroit are dark images back there. Now Florida has become state number four, and Narayana is going to need all the help he can get to support federal reserve banking in his neck of the woods.

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