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Policymakers Should Have Freedom to Lift Rates, Kaplan Says

  • Dallas Fed president skeptical about forward-guidance benefits
  • No new stimulus will ‘create headwinds for continued recovery’
Robert Kaplan
Robert KaplanPhotographer: Cooper Neill/Bloomberg
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Federal Reserve Bank of Dallas President Robert Kaplan said he dissented at the central bank’s September meeting so that future policy makers wouldn’t be forced to keep rates near zero.

“I would like future committees to have the flexibility to adapt to those future economic conditions so they can use their best judgment in deciding on the appropriate stance of monetary policy,” Kaplan wrote in a letter published Tuesday.