Fed's Kaplan: If we wait to see evidence of weak consumer, will have waited too long
Comments from the Dallas Fed President:
- Said he supported cut this week
- Sees 2% growth this year, sees 1.7% in H2
- Hopes disagreement around Fed policy-setting table continues, makes for better decisions
- Manufacturing is weak and business investment soft and he's concerned it could seep into other areas of economy
This is similar to what he's been saying for the past six weeks. What's notable now is that he's repeating it after two cuts, which is a hint that he's prepared to do more.