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Federal Reserve should be patient on rate hikes, says Kaplan
September 5, 2017 / 11:59 PM / 20 days ago

Federal Reserve should be patient on rate hikes, says Kaplan

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

(Reuters) - The Federal Reserve should not raise interest rates for the time being, a U.S. central banker said on Tuesday, joining a chorus of Fed policymakers advocating a wait-and-see approach on rate hikes with inflation as low as it is.

“I actually believe we should be patient here,” said Robert Kaplan, who runs the Dallas Federal Reserve Bank and who is one of nine current voters on Fed policy this year.

Kaplan repeated his view, widely shared among his colleagues, that the Fed should start to trim its $4.5 trillion as soon as possible so that it can ensure it has “dry powder” to deal with a future crisis and recessions when it comes along.

Reporting by Ann Saphir

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