Fed's Kaplan in a moderated Q&A session

  • Kaplan has a vote this year
  • Key to US economy is the consumer
  • We're closer to balance on oil supply/demand
  • US GDP growth was pretty choppy last year
  • Confident US GDP growth will exceed 2% in 2017
  • We're forecasting 2.25% growth
  • There is still jobs market slack
  • Participation rate likely to fall in the decade, US needs much more workforce development and education
  • We're getting closer to employment, inflation goals
  • We should move sooner rather than later on rates

We'll update the headlines as they hit. He's taking questions from the media later as well.