Monetary policy did not need to become more accommodative at the last meeting of the Federal Open Market Committee, according to Federal Reserve Bank of Minneapolis president Narayana Kocherlakota, so he dissented, according to a statement released Friday.

Regarding the policy statement made after Tuesday’s FOMC meeting, which said the panel “currently anticipates economic conditions … are likely to warrant extraordinarily low levels of the federal funds rate through mid-2013,” Kocherlakota said: “The new language is intended to provide more monetary accommodation than before.”

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