Fed's Kaplan: Monetary policy is in the right place right now
Comments by Dallas Fed president, Robert Kaplan
- We now have a more normally shaped yield curve
- Economy needs more than just monetary policy
- Would need to see material change in the outlook to move rates
- We've got a good chance to grow 2% next year
- But Q4 this year is going to be weak
This just reaffirms the notion that Fed members are looking to keep rates steady for the time being. If things start to go off the rails, then perhaps they'd consider cutting again.
Otherwise, they should leave things as they are for quite some time yet going into next year. Kaplan isn't a voting member this year but he will be in 2020.