Kocherlakota speaking on CNBC:

• Doesn't see near term hike as appropriate unless there's a big change in the data between now and September
• Right now situation would call for consideration for more easing
• If you lift off now given outlook, credibility could slide
• Some equity volatility is not a major concern
• Risks to stability from low rates need to be monitored
• Market vol matters as a signal not cause and area tail risk to US outlook
• Market moves are an argument for not being hasty in taking away accommodation

• Inflation remains very low
• Barring a big change in data between now and September, I don't see a near-term hike as appropriate
• Right now situation would call for consideration of more easing
• Some equity volatility is not a major concern
• Market volatility matters as a signal, not a cause
• Wants US to get back to 3% growth, H1 was 2%
• Sees US returning to 3% growth in 2016

Kocherlakota is an ultra-dove.