Minneapolis Fed president open to cutting rates

narayana-kocherlakota
Narayana Kocherlakota

Federal Reserve Bank of Minneapolis president Narayana Kocherlakota would be "open to the possibility" of reducing the federal funds rate target to produce "better labour market outcomes", he said on October 8.

He told an audience in Minnesota there is room for more improvement in the labour market, despite unemployment nearing Fed officials' best guess of the long-run rate. He cited the potential for getting more "prime-age people" into work.

Given low inflation, the Federal Reserve has a "free

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