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Keep U.S. rates low until jobless
rate normalizes: Fed´s Kocherlakota

Reuters, by Ann Saphir

Original Article

Posted By:LittleHoodedMonk, 1/15/2013 12:40:28 PM

Minneapolis - The U.S. central bank should keep interest rates low until the jobless rate is a more "normal" 5.5 percent, a top Federal Reserve official said on Tuesday, in one of the strongest calls yet from a Fed policymaker for more monetary easing. "I do think that it´s important for the public to know that the Fed is going to stay in an accommodative stance until the economy is much closer to being what one might consider normal," Minneapolis Federal Reserve Bank President Narayana Kocherlakota told reporters. "And I think 6.5 percent unemployment, I think that would still be too high to be

Comments:
If you are stupid, this news is good for you...but, still bad for our economy. Remember if you can, after 9-11, two wars being fought and for this President Bush was repeatedly attacked daily by LSM [dRATS] for a unemployment rate of 4.7. At 8.0+, whatever true number is hidden from US, now, 6.5 is high and 5.5 is looked as the new norm. Even a socialist state can´t sustain that. Are you listening & preparing for future elections Tea Party?

      


Post Reply  

Reply 1 - Posted by: Pearson365, 1/15/2013 1:10:06 PM     (No. 9117918)

There is a major disconnect here. While the Fed is working to normalize employment, Obama and Democrats are working feverishly to retard economic growth and hiring. Moody´s senior economist and a major Obama apologist, Mark Zandi, says that the recent fiscal cliff deal will eliminate 600,000 jobs and reduce an already anemic 2.0% annual economic growth rate by full percentage point. Can someone have our economically illiterate president who enjoys parties meet with Fed officials before we borrow billions more for those WH parties?

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Reply 2 - Posted by: veritas, 1/15/2013 1:19:48 PM     (No. 9117941)

The goalposts aren´t just on wheels, they have rocket boosters, too.

A "normal jobless rate" means what? 5%-6% of the now much-smaller part of the population looking for work? Or the previous, real workforce size, which is many millions larger, and will therefore require many millions more jobs to hit a real, 4-to-5-ish percent healthy rate?

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Reply 3 - Posted by: BaseballFan, 1/15/2013 1:23:47 PM     (No. 9117952)

Part of Obama´s "new normal" includes ever-changing goals.

The only thing that will never change is that Obama policies are always a success, even when they are not, because that´s always someone else´s fault.



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Reply 4 - Posted by: NorthernDog, 1/15/2013 2:04:09 PM     (No. 9118043)

I think they actually want to keep unemployment high. That means more people dependent on the government and more willing to surrender their freedoms.
Also, more people working will probably ignite both inflation and interest rates, which will enrage the general public.

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Reply 5 - Posted by: snapper451, 1/15/2013 3:42:35 PM     (No. 9118262)

Can we get a countdown clock until January 21, 2017 please? I can´t wait until he is sworn in so we can start counting the days until he is out.

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Reply 6 - Posted by: vesicant, 1/15/2013 5:08:21 PM     (No. 9118484)

There is no causal connection between interest rates and employment. None at all. How can the Fed not know this?

BTW, this maroon voted in 2011 *against* keeping interest rates low. He probably found a horse head in his bed after that....

http://www.nytimes.com/2011/08/10/business/economy/fed-to-hold-rates-exceptionally-low-through-mid-2013.html?pagewanted=2&_r=0

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Below, you will find ...

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Posted By: LittleHoodedMonk- 3/8/2014 1:35:09 AM     Post Reply
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