Fed presidents clash over monetary policy


The presidents of two Federal Reserve banks criticised the Federal Open Market Committee's (FOMC's) monetary policy stance in separate speeches on January 10, each from opposing ends of the monetary policy spectrum.

Esther George, president of the Federal Reserve Bank of Kansas City, warned the persistence of highly accommodative monetary policy threatened the Fed's ability to control unemployment and inflation in the long term.

By contrast, Narayana Kocherlakota, president of the Federal

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