No case for interest rate hike, says top Fed policymaker
Bar a drastic change in the economic outlook, there is no case for a hike in interest rates this year, a Federal Reserve policymaker said on Friday.
Speaking to CNBC ahead of the Jackson Hole symposium, Minneapolis Fed President Narayana Kocherlakota, who will leave the Fed at the end of 2015, said the US central bank should not consider raising rates this year.
"Barring that [ a drastic change in the economic outlook] I don't see a near-term increase in interest rates as being appropriate, and by near-term I mean really through the course of 2015," he said.
The Minneapolis Fed president added that it would take years for inflation to return to target, suggesting it would instead be appropriate to consider further stimulus measures.