Fed's Kaplan: The prognosis for 2020 is reasonably good
Kaplan spoke with the WSJ
We still have the situation where you've got weak global growth, weak manufacturing and weak business investment. But we've got a very strong consumer, and I think on balance, if we can grow 2% next year, and if we get some stability in some of these trade uncertainties, hopefully global growth can stabilize. And so I think the prognosis for 2020 is reasonably good and that we've got a good opportunity to grow at 2%.
- I am open minded about looking at, regarding inflation, an averaging period that's longer than 12 months.
- We want to grow nominal GDP
Kaplan talks about nominal GDP, it's a chart that doesn't get enough attention: