"The end of [quantitative easing] is good news. While many believe monetary accommodation was necessary in 2008 and 2009, the Federal Reserve allowed its extraordinary measures of the financial crisis to become its ordinary policy," he said.
Fed ends extraordinary stimulus as economy mends →
"I suspect that it will be somewhat more challenging for the Fed to impact them," Mr. Kocherlakota said.
Federal Reserve officials clash over boosting economy →