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    Fed's Kocherlakota Blasts New Rate Guidance, Wants Low Rates For Longer

    Wochit Headline News

    by Wochit Headline News

    Minneapolis Federal Reserve Bank President Narayana Kocherlakota said The Federal Reserve should have promised to keep rates near zero until U.S. unemployment falls below 5.5 percent, as long as inflation and financial stability risks are contained. On March 19th the Fed, in its first policy-setting meeting under Fed Chair Janet Yellen, said it would factor in a wide range of economic measures as it judged the correct timing for raising rates.