More from Fed's Kaplan: Federal Reserve should be patient on rates

Earlier from Mr. K here (K as in Kaplan, not Kuroda): Fed's Kaplan still expecting 2.25% growth for US in 2017, & lower unemployment rate

More:

• Hurricane Harvey will mean a tremendous loss of property, much of it not insured
• Says that certainly in Texas, but also in nation, will see short-term growth slowdown after Harvey
• It will be a very difficult next number of months in Texas, but will ultimately recover
• Fed should be patient on rate hikes
• We may still raise rates this year but I want to wait and see more information
• Fed will be well-served to work down its balance sheet so it has 'dry powder' for a future crisis