July 14, 2020 / 8:44 PM / a month ago

Fed's Kaplan says there is 'lots of overcapacity' in U.S. economy -CNBC

July 14 (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan said on Tuesday there is “lots of overcapacity in the economy,” which he described as “disinflationary.”

“While we have got this high an unemployment rate and this much overcapacity, the overwhelming trend I believe is going to be disinflationary,” Kaplan said in an interview with CNBC.

Reporting by Kanishka Singh in Bengaluru Editing by Chris Reese

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