Economics
Fed’s Kaplan Signals Virus Spread May Be Key to Another Rate Cut
- A more rapid acceleration of coronavirus would be worrisome
- Kaplan says it is too soon to judge outcome of March meeting
Robert Kaplan, president of Federal Reserve Bank of Dallas.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Federal Reserve Bank of Dallas President Robert Kaplan said the pace of acceleration in the coronavirus across the U.S. will be an important factor as he weighs the need for another interest rate cut when policy makers meet later this month.
“I am going to be watching very, very carefully the path of diagnosed cases,” Kaplan said Thursday in a Bloomberg TV interview with Kathleen Hays in Chicago. “We’re just going to have to see what the actual developments are over the next 10 days, two weeks. That will be a key factor, yes, I will be using to judge what’s appropriate and whether we can wait longer.”