Dallas Fed President Kaplan on CNBC after the jobs report

  • Labor markets are tightening
  • A lot of the jobs lost in Sept were temporary
  • Companies have less pricing power now
  • Fed can afford to be patient removing accommodation
  • Says he expects less than 3 rate hikes next year
  • Simple tax cuts would give short-term boost, thoughtful tax reform could help longer-term growth

Kaplan is on the more-dovish side of the Fed but if/when he indicates that he's gaining confidence, that will be a big signal on December.