Narayana Kocherlakota: Discussion of Robert Hall’s paper Speech by Mr Narayana Kocherlakota, President of the Federal Reserve Bank of Minneapolis, at the National Bureau of Economic Research Macroeconomics Conference, Cambridge, Massachusetts, 12 April 2014. *  *  *  I thank Richard Condor, Terry Fitzgerald, Fabrizio Perri, and Sam Schulhofer-Wohl for their comments.
The views expressed in this discussion are my own, and are not necessarily those of others in the Federal Reserve System.