Fed's Kocherlakota (non voter, dove, 2014 FOMC dissenting vote): Fed should defer the first interest rate hike to 2H16, should be extraordinarily patient about lower accomodation
- Notes that 3 more years like 2014 will be required to get back to full employment
- Financial stability risks are immaterial right now
- expecting inflation to stay under 2% until 2018 or even late