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Kocherlakota claims Fed decisions led to deliberately slow recovery

REUTERS/Brian Snyder
Narayana Kocherlakota

Pretty serious charges from the outgoing Minneapolis Fed chair. For Reuters, Jonathan Spicer and Ann Saphir write: “The Federal Reserve purposely sought to keep the U.S. recovery slow after the financial crisis, Narayana Kocherlakota said on Friday in his final public appearance as Minneapolis Fed President. … ‘We were systematically led to make choices that were designed to keep both employment and prices needlessly low for years,’ Kocherlakota said in remarks prepared for delivery at a conference at the Philadelphia Fed. Once the worst of the recession had passed and the economy was growing again, in November 2009, the Fed ‘was aiming for a slow recovery in both prices and employment.’ ”

Minneapolis will take a look at its rules for homeless shelters. City Pages’ Susan Du explains the issues: “There’s an age-old rule in Minneapolis that confines homeless shelters to the downtown or to religious institutions. The city’s overnight shelters have become overcrowded as a result, with churches cramming as many people as they can into dingy basements and gymnasiums that aren’t really meant for human habitation. … “We want to be able to serve anyone who’s coming to us looking for service,” [executive director of Simpson Housing Steven] Horsfield says. ‘If you’re Muslim and the shelter is the Baptist church, there’s this perception of, “Oh well I’m going to have to sing for my supper.” That just doesn’t strike me as fair.’ ”

How long before the hipsters jump on this trend? At Watchdog.org, Tom Steward notes the increase in shooting ranges in Minnesota: “Guns are a contentious issue in a lot of places, but more Twin Cities suburbs are pulling the trigger on new indoor shooting ranges available to the public, doubling the number in the last two years. Six of 10 indoor gun ranges in the metro area have been approved since 2013, two in the past three months. … ‘There’s been a surge in demand for shooting – a lot of new shooters, a lot of new women shooters,’ said Andrew Rothman, a firearms instructor and Minnesota Gun Owners Civil Rights Alliance president. ‘The trend has been toward more ranges, and the indoor ranges are getting nicer. They’re getting more upscale.’ ”

Nothing to see here. For the Minnesota Daily, Benjamin Farniok reports on some amazing statistics: “Nine out of 10 college campuses certified in annual crime statistics that they did not receive a single report of rape last year. … That stark figure — along with the continued underreporting of campus sexual assault — suggests that universities across the nation lack proper reporting mechanisms for victim-survivors, according to a recent analysis of the yearly campus crime data mandated by the Jeanne Clery Act. … In 2014, the University of Minnesota reported 13 cases of rape on its Minneapolis and St. Paul campuses.”

Did John LaDue get off too easy? Here’s Nancy Madsen in the Mankato Free Press: “When Waseca County Attorney Brenda Miller looks at John LaDue’s meticulous planning in a plot to detonate bombs at Waseca Junior-Senior High School, she believes the Minnesota criminal statute should allow for conviction based on that preparation. … In March, the Minnesota Court of Appeals threw out four attempted murder charges and two attempted criminal damage to property charges because the preparation alone didn’t meet the state threshold for the charges. … The decision possibly prevented LaDue from serving a long prison sentence as a result of conviction on the serious charges. Instead, Miller and defense attorneys reached a plea agreement in which LaDue, who was diagnosed with autism spectrum disorder, will undergo a series of treatments for the disorder, starting at a secure facility in Georgia.”

In other news…

More than 30 gunshots reported in shooting in downtown Minneapolis — 5 arrested. [WCCO]

Yeah, don’t do that: Appeal rejected of “Minnesota priest who was convicted of having sex with a woman who was seeking his spiritual advice.” [WCCO]

PSA: State investigators probably won’t ask you to bring $35,000 cash to aid in their investigation. [Pioneer Press]

Minneapolis didn’t make the top 10 in a list of “Best U.S. Cities for Advancing Black Male Achievement”but you might be surprised to learn it was #11.  [Next City]

Here’s what the Denver Post thinks visitors to Minneapolis/St. Paul should do for a good time. MoA anyone? 

What if the 40 percent of Minneapolis’ 160,000 downtown workers who ride transit drove their cars instead? [streets.mn]

Suds to come: predictions for the next year in Minnesota beer. [Minnesota Business]

“Making something new on the Iron Range” [Hibbing Daily Tribune]

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