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.
