4 Fed members speaking on a panel in Dallas
Fed's Kaplan, Daly, Bostic and Barkin are all in Dallas talking on a panel discussing technology – enable disruption and the implications for business, labor markets and monetary policy.
Below are some of the comments:
Kaplan (non-voter in 2019:
- He is more concerned about businesses than consumers being front end of the next economic slowdown
- China could depreciate yuan if trade dispute drags on
- It seemed on a recent visit that China is girding itself for trade tensions to go on for some time
- The Fed needs to watch excesses, imbalances that could make a future downturn worse
Barkin:
- Hears that businesses are holding back investment because of the uncertainty
- does not see much impact from trade dispute if it's short
Daly:
- inflation hasn't come up to target in a sustainable way
- technology benefits broader in a better skilled workforce
- business outlook clouded by trade, global uncertainty
- once trade tensions are resolved, businesses will find a way to leverage their assets
Bostic
- Fed would use whatever tools are required to combat any future recession