Kocherlakota: Fed Staying Patient as It Watches Inflation

The transcript discusses the Federal Reserve's focus on inflation control, comparing reactive and proactive strategies. It highlights the importance of monitoring inflation expectations and international risks. The discussion also covers the concept of overshoot in inflation control and the Fed's strategic approach to achieving a 2% inflation target sustainably.

What is the main focus of the speaker regarding the economic situation?

How does the speaker view the relationship between inflation and international risks?

What does the speaker suggest about the Fed's approach to inflation management?

What is the significance of the term 'overshoot' in the context of the Fed's inflation strategy?

According to the speaker, what should the Fed consider before raising rates?