Fed Kaplan: I’m open-minded on December, still not here

Dallas Fed President Kaplan on CNBC after the jobs report

  • Labour markets are tightening
  • Many of the jobs lost in Seven were temporary
  • Companies have less pricing power now
  • The Fed can afford to be patient in removing accommodation
  • He said that he expects at least 3 rate hikes next year
  • Simple tax cuts would provide a short-term boost, thoughtful tax reform could help growth in the long term

Kaplan is on the dovish side of the Fed, but if/when it indicates that it earns the trust, which will be a great signal on December.

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