Narayana Kocherlakota, Columnist

The Millennium Is Off to a Bad Economic Start

The Federal Reserve needs an attitude adjustment.

January 3, 2018 at 11:00 AM UTC

Narayana Kocherlakota is a Bloomberg Opinion columnist. He is a professor of economics at the University of Rochester and was president of the Federal Reserve Bank of Minneapolis from 2009 to 2015.

Work still needed.
Photographer: Luke Sharrett/Bloomberg

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In the first 18 years of the new millennium, the U.S. economy has fared much worse than it could have. If the Federal Reserve wants to improve that performance, it should consider changing the way it manages growth and inflation.

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