Fed's Kocherlakota Makes Case For More Stimulus

(RTTNews) - At least one Federal Reserve official thinks the central bank should do even more to kickstart the U.S. economy after a rough winter.

Minneapolis Federal Reserve President Narayana Kocherlakota on Tuesday said the central bank is not doing all it can to promote faster job creation and healthy levels of inflation.

"We have to conclude that the [Federal Open Market Committee] is underperforming with respect to its goal of promoting maximum employment," he said of the 6.7 percent unemployment rate for March.

Kocherlakota was the only dissenting vote at the March Fed meeting where policy makers trimmed their bond-buying down to $55 billion per month.

The minutes from the March meeting are set for release at 2 PM ET Wednesday, and may shed some light on whether Kocherlakota has some easy-money allies on the FOMC.