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Fed has time to mull financial instability concerns -Kocherlakota

NEW YORK, Feb 28 (Reuters) - A top Fed official said on Friday concern that loose monetary policy was fueling financial instability was not a pressing issue and that there was enough slack in the economy to give the U.S. central bank two to three years to mull the problem.

"We don't need this theory to be able to make decisions in March of 2014," Minneapolis Federal Reserve Bank President Narayana Kocherlakota said in a reference to the concern that loose monetary policy could be fueling financial instability.

But he added that the economy remains weak, so "I think we have two to three years to be thinking of this problem."

(Reporting by Jason Lange; Editing by Paul Simao)