Fed's Kocherlakota (non-voter, dove): Raising interest rates this year is not consistent with the Fed's mandate
- would require 3 more years of job gains similar to that seen in 2014 for full employment to be reached; at full employment, the rate would likely not be below 5%
- Fed should seek to help the labor market to what was seen in late 2006
- Reiterates not expecting inflation to get back to 2% until 2018
- labor market metrics are continuing to improve in 2015