Economics

Fed's Kaplan Counsels Patience With Growth Expected to Slow

Kaplan sees ‘lot of uncertainty’ as tariffs, input costs bite
Fed president says 2019 economic growth is going to be slower

Robert Kaplan, president and chief executive officer of Federal Reserve Bank of Dallas, listens during the the Federal Reserve Bank of Atlanta & Dallas Technology Conference in Dallas, Texas, U.S., on Thursday, May 24, 2018. The title of the conference is 'Technology-Enabled Disruption: Implications for Business, Labor Markets and Monetary Policy.' Technology-enabled disruption refers to workers increasing being replaced by technology.Photographer: Cooper Neill/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Jeanna Smialek

December 6, 2018 at 2:02 PM UTC

Updated on

December 6, 2018 at 3:01 PM UTC

This article is for subscribers only.

Federal Reserve Bank of Dallas President Robert Kaplan said that he’ll be urging patience as the central bank moves into 2019 against a backdrop of slowing growth and no sign that inflation is taking off.

“I’ve had a lot of confidence that we should be moving along” but “at this stage, you’re going to hear me be a lot more cautious and counsel patience,” Kaplan said in an interview Thursday on CNBC. “Normalizing monetary policy was always going to be challenging, and I think we’re in the stage of this process where you’re going to hear me shorten up on prognostications.”