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6 May 2015
Fed’s Kocherlakota against a 2015 rate hike – MP
FXStreet (Barcelona) - Stuart McPhee, Currency Technical Analyst at MarketPulse, shares the key comments from Fed Kocherlakota’s speech, noting that the Fed non-voter prefers a rate hike in 2016.
Key Quotes
“The Federal Reserve should not raise interest rates until at least next year, Minneapolis Federal Reserve Bank President Narayana Kocherlakota said on Tuesday. Kocherlakota, in remarks prepared for delivery to a town hall at Southwestern Minnesota State University in Marshall, Minnesota, held to a position he has staked out in earlier speeches.”
“Despite improvement in the job market, he said inflation is expected to remain below the Fed’s 2 percent annual target “for several years,” giving the United States room to grow and allowing further improvement in employment. The Fed “can best achieve its objectives by keeping the fed funds rate target at its current level during this calendar year,” Kocherlakota said.”
Key Quotes
“The Federal Reserve should not raise interest rates until at least next year, Minneapolis Federal Reserve Bank President Narayana Kocherlakota said on Tuesday. Kocherlakota, in remarks prepared for delivery to a town hall at Southwestern Minnesota State University in Marshall, Minnesota, held to a position he has staked out in earlier speeches.”
“Despite improvement in the job market, he said inflation is expected to remain below the Fed’s 2 percent annual target “for several years,” giving the United States room to grow and allowing further improvement in employment. The Fed “can best achieve its objectives by keeping the fed funds rate target at its current level during this calendar year,” Kocherlakota said.”