Kocherlakota sets out path back to maximum employment
Minneapolis Fed president highlights need for at least three more years ‘as good as 2014’
The US economy will need "at least three more years as good as 2014" for it to get back to maximum employment, according to Federal Reserve Bank of Minneapolis president Narayana Kocherlakota.
Addressing a community leaders lunch in Montana on May 28, Kocherlakota argued that, without "clear evidence of post-recession damage" to the labour market, it was "natural" to treat 2006 as a benchmark for the Fed's goal of maximum employment.
He then sought to address how long it would take to return to
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