Better labor, inflation data likely temporary -Fed's Kocherlakota

MINNEAPOLIS, July 8 Tue Jul 8, 2014 3:15pm EDT

Related Topics

MINNEAPOLIS, July 8 (Reuters) - A top Federal Reserve policymaker poured cold water on some positive recent economic data, saying on Tuesday he does not expect the "rapid" drop in U.S. unemployment to be sustained in coming months and calling firmer inflation "temporary."

Narayana Kocherlakota, president of the Minneapolis Fed and a dovish voter on monetary policy this year, said he expects unemployment to fall just below 6 percent by year end, when he sees core inflation around 1.6 percent. The economic contraction in the first quarter means Americans will be "fortunate" to get 2.5 percent GDP growth this year, he added. (Reporting by Jonathan Spicer; Editing by James Dalgleish)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.