Economics
Fed's Kaplan Urges No Further Rate Action Until Outlook Clearer
- Dallas Fed chief says officials to gain clarity in first half
- Fed has met inflation target, but prices will stay muted
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Federal Reserve Bank of Dallas President Robert Kaplan said he’s waiting on clarity about the U.S. economic outlook before supporting further moves on interest rates, but he expects the picture might start to clear up in coming months.
“I believe it would be prudent for the Fed to exercise patience and refrain from taking further action on the federal funds rate until the economic outlook becomes somewhat clearer,” Kaplan wrote in an essay titled “The Value of Patience” released Tuesday. “I expect we will get some further clarity during the first half of 2019.”