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.
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)