Dallas Fed President Kaplan is speaking
- He has been an advocate of beginning to discuss FOMC tapering, most recent comments are here
From a Q&A he is participating in:
- says forecast calls for GDP to grow by 6.4% in 2021
- unemployment rate to drift down to 4%
- many workers who made $12 to $15 an hour are reluctant to enter full-time jobs because unemployment benefits are generous
- says it would be wise to clearly communicate on plans to taper bond buying, says again that he is in favour of talking about tapering sooner rather than later
- house prices are at historically high levels
- says he wonders if increased investor interest in single-family homes is a side effect of Fed's asset purchases
- sees elevated inflation due to supply/demand imbalances
- says its uncertain how long these imbalances are going to last
- inflation is expected top moderate next year but there is uncertainty
more to come
Event link (listen live if you wish):
A Virtual Town Hall with Robert S. Kaplan
A Discussion of Economic Developments and Implications for Monetary Policy
