October 18, 2019 / 2:41 PM / 2 months ago

Kaplan: "Agnostic" on October rate cut, may be wise to see "more cards" before acting again

WASHINGTON, Oct 18 (Reuters) - Dallas Federal Reserve bank president Robert Kaplan said Friday he is currently “agnostic” about whether the Fed cuts rates at its upcoming October meeting, arguing it may be wise to see more information before adding a third rate reduction to the two the central bank has already approved this year.

“This could break either way,” Kaplan said. But despite risks tilted toward a worse-than-expected economic outcome, “it may be wise to take a little time to assess and continue to turn over a few more cards”. Kaplan said he supported the Fed’s moves in July and September, but as of the September meeting did not expect more cuts would be appropriate this year. (Reporting by Howard Schneider; Editing by Alex Richardson)

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