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Fed’s Kocherlakota Sees European ‘Headway’ on Cutting Deficits

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April 12 (Bloomberg) -- Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said European governments making “headway” in closing budget gaps have reduced the probability of another flare-up in the region’s debt crisis.

“Conditions are certainly better than they were at the end of last year,” Kocherlakota said today in response to questions after a speech in White Bear Lake, Minnesota. “We’re in a much better place than we were six months ago.”

To contact the reporters on this story: Jeff Kearns in Washington at jkearns3@bloomberg.net; Steve Matthews in Atlanta at smatthews@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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