Fed's Kohn on monetary policy

In a speech on 'Monetary Policy in a Time of Macroeconomic Transition' given on 25 March, Donald Kohn of the Federal Reserve said the Fed should make sure inflation has stabilised and labour market slack is easing before raising interest rates from their current lows.

"I think policy action can await convincing evidence that labor market slack is on a declining trend and that inflation is no longer decreasing," Kohn told the National Association for Business Economics.

"The unusual shocks that

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