JACKSON HOLE, Wyo. — Minneapolis Federal Reserve Bank President Naryana Kocherlakota suggested a long-term need for highly stimulative monetary policies Saturday.

Kocherlakota, participating in a discussion at the Kansas City Federal Reserve Bank's annual symposium, said that, although the Fed has cut the overnight federal funds rate near zero and has been buying $85 billion of bonds per month to hold down long-term interest rates, it has not been able to lower real interest rates enough.

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