Fed's Kaplan: Market-determined rates showed policy was too tight before rate cuts

Author: Justin Low | Category: Central Banks

Comments by Dallas Fed president, Robert Kaplan


  • Says he will take some time to carefully monitor developments after rate cuts
  • Says he will be highly vigilant, keep an open mind on further easing
  • Concerned about slowing global growth
  • Worried that US manufacturing weakness could spread to broader US economy
  • Says US economy is at or past full employment
  • Expects inflation to reach 2% target over medium-term
  • Expects 2.1% US GDP growth this year
There isn't anything in here to really shake things up and also be reminded that Kaplan isn't a voting member on the FOMC this year. The above mainly just reiterates the Fed's current stance on being more 'data dependent'.

I reckon we'll have to see how trade talks play out this week before getting a sense of whether or not they will walk back on expectations for an October rate cut next week.
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