Kaplan speaks to reporters after forum in NY

He adds:

  • Lower inflation gives Fed benefit of being patient
  • Fed has time to make a decision on interest rates
  • He's not committed to Fed's next policy move, await incoming economic data
  • US inflation, which is running below 2% goal, allows policymakers to be patient
  • Adaptation of any new inflation framework must be credible
  • US economy more sensitive to interest rate changes than ever before due to high levels of public and private debt