June 15, 2018 / 6:23 PM / a year ago

Fed's Kaplan says trade is an opportunity, not threat

FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan gestures during a news conference after of the True Economic Talks event in Mexico City, Mexico, July 14, 2017. REUTERS/Edgard Garrido/File Photo

FORT WORTH, Tx. (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan on Friday said trade with Mexico and Canada boosts jobs in the United States, and warned that it will be difficult to solve problems that plague U.S.-China relations if trade frictions continue in North America.

“We believe trade is an opportunity,” Kaplan said, adding that there are some difficult issues related to technology transfers that make the China-U.S. trade situation different.

He also said his “base case” is still for one more interest-rate hike this year, even as most of his colleagues expect at least two more rate hikes, and reiterated his view the Fed should not raise rates so far that the yield curve inverses.

Reporting by Marice Richter; writing by Ann Saphir; Editing by Chizu Nomiyama

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