Fed official says US Fed should cut rates.
Global Banking News-October 9, 2015--Fed official says US Fed should cut rates
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Global Banking News - 09 October 2015
Minneapolis Fed president Narayana Kocherlakota has said that he favours a rate cut by the Federal Reserve, Reuters said.
He said, 'Given my current outlook, I believe that it would be appropriate to wait until 2017 to initiate lift off and then raise the fed funds rate at about 2 percentage points per year. To best fulfil its congressional mandates, the (Federal Reserve Open Market Committee) should be considering reducing the target range for the fed funds rate, not increasing it.'
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