Narayana Kocherlakota

Tighten Seatbelts: 3 Dissenters On Fed Policy

Below is the full FOMC statement from today’s Fed meeting, and there are three dissenters on today’s new language stating a low rate target “at least through mid-2013”. These dissents are a big change because all FOMC decisions received unanimous votes since the Thomas Hoenig rotated off the FOMC in January, and he was the

Tighten Seatbelts: 3 Dissenters On Fed Policy

Below is the full FOMC statement from today’s Fed meeting, and there are three dissenters on today’s new language stating a low rate target “at least through mid-2013”. These dissents are a big change because all FOMC decisions received unanimous votes since the Thomas Hoenig rotated off the FOMC in January, and he was the

No Fed rate or QE2 change. Rate advice for consumers.

Today’s Fed statement acknowledges economic recovery is on “firmer footing,” and while the Fed acknowledges inflationary concerns, it’s choosing to ignore inflation pressure for now and keeping overnight bank-to-bank target Fed Funds Rates at 0-.25%, and keeping the overnight Fed-to-bank Discount Rates at .75%. They also said they’d keep going with their second round of