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Dallas Fed's Kaplan 'actively considering' backing December rate rise: FT
November 14, 2017 / 9:40 AM / 9 days ago

Dallas Fed's Kaplan 'actively considering' backing December rate rise: FT

(Reuters) - Dallas Federal Reserve President Robert Kaplan is “actively considering” supporting another increase in short-term interest rates at the central bank’s meeting in December, the Financial Times reported on Tuesday.

Dallas Federal Reserve Bank President Robert Kaplan walks after the True Economic Talks event in Mexico City, Mexico, July 14, 2017. REUTERS/Edgard Garrido

“History has shown that normally when we have a substantial overshoot the Fed ultimately needs to take actions to play catch-up,” Kaplan said in an interview with the Financial Times.

Kaplan said he was actively considering “appropriate next steps” when asked if he was willing to consider a rate rise at the upcoming Fed meeting, FT reported.

Kaplan said he was concerned that historically low unemployment rates, which hit a 17-year low in November, required heightened vigilance, according to the paper.

Reporting by Ismail Shakil in Bengaluru; Editing by Gopakumar Warrier

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