Fed's Kocherlakota Renews Call to Hold Rates Lower Longer (Now Unemployment must be 5.5%)
Report title taken from CNBC
Kocherlakota is saying rates should remain at zero until unemployment reaches 5.5 - this is in contrast to what Bernanke said last week.
Kocherlakota also said, the Fed should keep buying bonds and not START reducing the buying until unemployment is below 7 % as long as inflation is below 2.5%. These are changes in the percentages just mentioned.
This means easy money will stay longer than the market is thinking!!!