Fed's Kaplan: The prognosis for 2020 is reasonably good

Author: Adam Button | Category: News

Kaplan spoke with the WSJ

Key passage:

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:
Nominal US GDP
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