Mpls. Fed chief: Help still needed for economy

  • Article by: Adam Belz , Star Tribune
  • Updated: March 27, 2013 - 8:59 PM

Narayana Kocherlakota said interest rates must stay low until unemployment falls below 5.5%.

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supervon2Mar. 27, 13 5:51 PM

How about calling for responsible government that balances its budget and pays its past debts?

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ffedericoMar. 27, 13 6:37 PM

Of course inflation isn't a problem. They've gamed the way it is calculated and it doesn't change no matter what. If they calculated it the old way inflation would be over 10%. Look at the price of gas, for example. It's more than doubled since Obama was elected. That works out to about 20% per year increase.

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bootsy07Mar. 27, 13 8:00 PM

Yes, the official inflation calculation is an absolute sham. Tying monetary policy to employment is nuts. It's like piling on kindling because a tiny flame won't turn into a big one. This won't end well.

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theagonybhoMar. 28, 13 8:47 AM

The feds need to stay out of the economy if we are ever to self correct. The printing oF 85 billion a month and keeping interest artificially low is the only thing propping up the stock market and housing industry. As we saw today unemployment claims rose again, tying anything to 5.5% unemployment is rediculous, at that rate the feds will be in until 2020.

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jd55604Mar. 28, 1312:18 PM

Thank goodness for all the help they've given us so far. Trillions in debt, a falling dollar and a stagnant economy. Maybe they can be a little less helpful from now on.

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hjlazniMar. 28, 13 1:59 PM

Maybe they should have held the meeting at "The Way" in north Minneapolis instead of the Edina County Club. Oh ya, quantitative easing pays the holders of U.S. instruments the highest price under the quise of quantitative easing. I quess the Edina Country Club is a good location for the speech.

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rochfanMar. 28, 13 3:37 PM

I heard on television when the Cypriots were deploring the proposal to take depositors money to accommodate the ECB That the "US is already 'taking' depositors money by keeping the interest rates so low." Never thought of it that way

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