June 3, 2012 / 6:06 PM / 7 years ago

Fed's Kocherlakota: No comment on policy, economy

(Reuters) - The head of the Federal Reserve Bank of Minneapolis did not comment specifically on current monetary policy or the U.S. economy on Sunday, according to his prepared comments.

Narayana Kocherlakota, speaking at the Financial Intermediation Research Society Conference in Minneapolis, instead gave a lecture in which he stressed the need to use “risk-neutral probabilities” in predicting future economic outcomes and setting policy.

The regional bank president is among the more hawkish policymakers at the U.S. central bank, which has taken unprecedented steps to boost the recession-wounded economy.

More economists expect the Fed to take even more policy steps after a report on Friday showed job growth in May was far weaker than expected, with the U.S. unemployment rate rising for the first time in nearly a year, to 8.2 percent from 8.1 percent in April.

Reporting by Jonathan Spicer; Editing by Jan Paschal

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