More policy easing unnecessary: Minneapolis Fed chief

Reuters

WASHINGTON (Reuters) - Minneapolis Federal Reserve Bank President Narayana Kockerlakota on Friday said he dissented from a U.S. central bank decision to keep interest rates low until mid-2013 because he felt more policy easing wasn't needed.

In a statement, he said he said that since late last year inflation has risen and unemployment, while still high, has fallen.

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"I do not believe that providing more accommodation -- easing monetary policy -- is the appropriate response to these changes in the economy," Kockerlakota said.

The statement was posted on the Minneapolis Fed's website at: http://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=4715

(Reporting by Glenn Somerville; Editing by Theodore d'Afflisio)