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Fed's Kocherlakota urges five more years of low interest rates
The Federal Reserve should keep U.S. borrowing costs low for another five years to ensure the economy returns to health, even if doing so generates worrying signs of financial instability, a top U.S. central bank policymaker said on Wednesday. With the current outlook suggesting U.S. inflation and employment will undershoot the Fed's goals for years to come, "the (Fed) will only be able to meet its objectives over that time frame by taking policy actions that ensure that real interest rates remain unusually low," Minneapolis Fed President Narayana Kocherlakota said in remarks prepared for delivery to Boston College's ... (full story)
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