The committee meets eight times a year to determine target interest rates for the country. Its voting members include four of the 11 regional Federal Reserve presidents on a rotating basis.
Though Kocherlakota has said that the government’s intervention following the financial crisis was necessary, he has criticized the public explanation of these actions. He has expressed support for the Fed’s current plan of buying government securities to increase the money supply as “a move in the right direction.”
At age 47, he is the youngest regional Federal Reserve president.
A talented academic from a young age, Kocherlakota entered Princeton at age 15 after skipping two grades in middle school and finishing high school in two years. He graduated at age 19 with a degree in mathematics before earning a doctorate in economics from the University of Chicago in 1987.
His appointment as a regional Fed president culminates a 20-year academic career in which he taught at the Kellogg Graduate School of Management at Northwestern University, University of Iowa, Stanford University and the University of Minnesota.
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