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.