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Minneapolis Federal Reserve Bank President Narayana Kocherlakota said on Friday that the Fed should adjust its monetary policy so that it can reach its 2% inflation target within two years. He also said that the Fed should not raise its interest rate as the inflation is low and as the interest rate hike will have a negative effect on job creation.
Kocherlakota isn't a voting member of the Federal Open Market Committee (FOMC) this year.
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