Kaplan leaning against the narrative

  • 'Comfortable' with one more hike in December

  • Sees two more hikes in 2019 as base case

  • Doesn't necessarily want to pause when Fed gets to neutral

  • Favors keeping options open once reaching neutral

This is a clarification on his earlier comment suggesting he wanted to pause after hitting neutral. It's less dovish but he's still coming down on the dovish side.