August 12, 2011 / 1:47 PM / 7 years ago

More policy easing unnecessary: Minneapolis Fed chief

WASHINGTON (Reuters) - Minneapolis Federal Reserve Bank President Narayana Kockerlakota on Friday said he dissented from a U.S. central bank decision to keep interest rates low until mid-2013 because he felt more policy easing wasn’t needed.

In a statement, he said he said that since late last year inflation has risen and unemployment, while still high, has fallen.

“I do not believe that providing more accommodation — easing monetary policy — is the appropriate response to these changes in the economy,” Kockerlakota said.

The statement was posted on the Minneapolis Fed's website at: here

Reporting by Glenn Somerville; Editing by Theodore d'Afflisio

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